256 Beacon Street – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1,606-square-foot home built in 1907, offering above-average interior space for both its West Alexander neighbourhood and Winnipeg as a whole. The assessed value is low relative to the city, at $137,000, and sits below the neighbourhood average of $187,300. The land lot is compact—2,283 square feet, which is smaller than most comparable properties on Beacon Street and significantly smaller than typical citywide lots.
The appeal here is straightforward: you get more finished living space than most comparable homes in the area, on a street where the average home is similar in age and value. The house is not undervalued in a speculative sense; rather, its modest assessment reflects the smaller lot and older construction. This property suits a buyer who prioritises indoor square footage over outdoor space, and who is comfortable with an older home in a neighbourhood where many houses date from the early 1900s. It is less suited for someone seeking a large yard or expecting significant land appreciation.
Frequently Asked Questions
1. How does the living space actually compare to other homes nearby?
On Beacon Street itself, this home ranks 3rd out of 9, meaning it’s slightly larger than the street average of 1,502 square feet. In the broader West Alexander area, it’s in the top 25% for size, so a buyer will get more interior room than most neighbouring properties.
2. The assessed value seems low—does that mean it’s a bargain?
Not necessarily. The assessment is low primarily because the lot is small and the home is older, which keep the market value down. It is ranked in the bottom 2% citywide for assessed value. For a buyer, this could mean lower property taxes, but it’s not a sign of hidden undervaluation; it matches the physical reality of the property.
3. Is the 1907 construction a problem?
The year built is typical for the street (average 1907) and slightly older than the neighbourhood average of 1921. Citywide, it’s older than 96% of homes. This likely means original materials and systems—buyers should budget for potential updates to wiring, plumbing, insulation, and foundations, which are common for homes of this era.
4. How small is the lot compared to others, really?
On Beacon Street, the lot is about average. But in West Alexander, it ranks in the bottom 9% for land area, and citywide it’s in the bottom 2%. Most homes in the city sit on lots nearly three times larger. If you want a garden, room for additions, or privacy from neighbours, this property will feel tight.
5. What’s the best reason to consider this property?
If you value interior space and want a home in a well-established older neighbourhood with a lower tax base, this could be a good fit. It is a dense, compact property—more house than land—which is unusual in a city where the opposite is common.