247 Trinity Street – Property Summary
Key Characteristics & Buyer Profile
This is a 660 sqft home built in 1911 on a 1,249 sqft lot. The property is compact by modern standards, but its size is consistent with other homes on Trinity Street, where it ranks in the top 25% for living area and is the oldest home on the block. The assessed value sits at $100,000—roughly average for the street, but well below neighborhood and citywide medians.
The appeal here is less about space and more about entry-point affordability. In a market where the citywide average assessed value is $390,000 and the average home is nearly double the size, this property offers a foothold at a significantly lower price point. The trade-off is clear: you get a smaller footprint, an older structure, and a lot that's a fraction of the neighborhood norm (the West Alexander average lot is nearly three times larger).
This would suit a buyer who values location over square footage—someone looking for a starter home, a small renovation project, or a property in a denser urban setting where land is at a premium. It may not appeal to families needing space or buyers expecting a large yard. The ranking data suggests this is a niche property: strong within its immediate street context, but an outlier when compared to the broader area.
Frequently Asked Questions
1. How does the $100,000 assessed value compare to the actual market price?
Assessed value is a government estimate for tax purposes, not a market valuation. It can lag behind or exceed actual sale prices. On Trinity Street, the average assessed value is $98,500, so $100,000 is in line with street-level norms. However, the neighborhood average is $187,300, so if surrounding homes sell for more, this property's market price could be higher than its assessment—or lower, depending on condition and demand. A local realtor or recent sale data would give a clearer picture.
2. What are the implications of the property having a land area in the bottom 1% citywide?
A 1,249 sqft lot is small—roughly one-fifth the Winnipeg average. This limits expansion potential (additions, garages, large gardens) and may affect resale value if buyers prioritize outdoor space. On the positive side, smaller lots often mean lower maintenance and property taxes. It also suggests the home is in a denser, possibly more walkable part of the city, which some buyers prefer.
3. Is a 1911 build a concern for structural issues or insurance?
Older homes can have charm and solid construction (e.g., old-growth lumber), but they may also come with outdated wiring, plumbing, insulation, or foundation concerns. Some insurers charge higher premiums or require inspections for homes over a certain age. A pre-purchase inspection is strongly recommended. That said, this home ranks as the oldest on its street—if it's been maintained, it may be a testament to its durability.
4. How should I interpret the "rankings" provided—are they reliable comparisons?
The rankings compare this property to "comparable homes" within each scope (street, neighborhood, city). They're useful for relative context: on its street, this home is above average in age and size. But "comparable" is a broad category—it includes homes that may differ in condition, style, or recent renovations. The rankings are a starting point, not a substitute for visiting the property or reviewing its specific features.
5. What does "West Alexander" offer as a neighborhood, and what should I consider beyond the numbers?
West Alexander is an older, central Winnipeg neighborhood. The data shows it has smaller, older homes than the city average, which often correlates with lower prices and a mix of rental and owner-occupied properties. It's worth looking into local amenities: schools, transit, crime statistics, and nearby development plans. A low assessed value can sometimes signal undervalued areas with potential for appreciation—but it can also reflect stagnation. A drive through the area at different times of day will tell you more than the numbers alone.