Here is the summary of 258 Nora Street, structured as requested.
This property is best understood as an urban entry-level home with modest interior dimensions and a small lot. The key trade-off is price: its assessed value of $101k is well below both the street average ($135.5k), the West Alexander neighbourhood average ($187.3k), and the Winnipeg citywide average for comparable homes ($390.1k). This suggests the home is positioned at a low price point relative to the market, which is its primary appeal.
The property was built in 1905, making it older than most homes on the street (average 1919) and significantly older than the citywide average of 1966. The living area is 1,007 sqft, which sits close to the street average and slightly below the neighbourhood norm. The lot is 2,340 sqft—around average for the street but smaller than the typical neighbourhood lot.
The appeal here is straightforward: it offers a chance to own a detached home in a central Winnipeg neighbourhood (West Alexander) without the price tag of newer or larger properties. This would suit a first-time buyer who prioritizes affordability over space and condition, or an investor or renovator comfortable with an older home that may require significant updates. It is less likely to appeal to someone seeking a low-maintenance, move-in-ready property or a larger family needing more square footage and yard space.
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How does the assessed value compare to similar homes nearby?
The assessed value of $101k is below the average for Nora Street and well below the West Alexander neighbourhood average. It ranks near the bottom of the street (#7 out of 8) and falls in a very low percentile citywide. This reflects the property’s age, size, and likely condition in relation to others.
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Is the lot size typical for the area?
The lot is 2,340 sqft. While average for this specific street, it is smaller than the typical lot in the West Alexander neighbourhood (average 3,591 sqft) and well below the citywide norm for comparable homes (average 6,570 sqft). Yard space is limited.
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How old is the house, and is that unusual for the street?
Built in 1905, the house is older than the street average of 1919 and the neighbourhood average of 1921. It is considerably older than the typical comparable home citywide, which averages 1966. An older build often implies a need for updated systems and structural review.
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What type of buyer does this property best suit?
It is most suited to a budget-conscious first-time buyer or an investor looking for an entry-level property in a central location. The low assessed value and older construction suggest it may require renovation or ongoing maintenance, so an owner willing to take on those aspects would be the ideal match.
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How does the living space compare to other homes on Nora Street?
At 1,007 sqft, the living area is close to the street average of 1,152 sqft and ranks around the middle for Nora Street. It is below the neighbourhood and citywide averages, confirming it as a compact home.