532 William Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,840 sqft home on William Avenue in Winnipeg’s West Alexander neighbourhood, built in 1890 on a 3,169 sqft lot. Its standout feature is living space—it ranks in the top 8% on the street and top 16% citywide, offering significantly more interior room than most nearby homes. The assessed value, however, is low relative to the area and the city, ranking in the bottom 20% on the street and bottom 3% citywide. The lot size is close to average for the neighbourhood but small by city standards.
The appeal lies in the trade-off between generous square footage and a low price point. For buyers who prioritize interior space over land or modern finishes, this property offers more room per dollar than comparable listings. The low assessment may also signal below-market pricing, assuming the home is structurally sound. It would suit a buyer looking for a project—someone willing to invest in updates or renovation, particularly given the 1890 build date and the fact that the home is among the oldest on the street (top 98% by age). It may also appeal to those focused on square footage as a primary criteria, such as larger households or people needing room for a home business or shared living arrangement, who are flexible on other factors like lot size or curb appeal.
Five Frequently Asked Questions
1. How does the age of this home affect its value and usability?
Being built in 1890, the home is older than 98% of comparable properties on the street and 100% citywide. This means potential issues with outdated electrical, plumbing, insulation, or foundation work—but also possible character features (high ceilings, original trim) that are hard to find in newer builds. Buyers should budget for a thorough inspection and likely ongoing maintenance, but the low assessed value may already reflect these considerations.
2. Why is the assessed value so low compared to the living area?
Assessed value considers condition, location, and comparable sales, not just square footage. A home from 1890 with average land and possibly dated interiors will be valued lower than a newer or renovated home of the same size. This gap can work in a buyer’s favour if they are comfortable with the home’s current state and are not relying on immediate resale profit.
3. Is the property on a large or small lot?
The land area of 3,169 sqft is around average for William Avenue and the West Alexander neighbourhood (top 60–66%), but it is significantly smaller than the citywide average of 6,570 sqft. This is typical for older urban infill lots. If you want a large yard or future subdivision potential, this property is not a strong fit.
4. How does this home compare to others for sale nearby?
The property ranks in the top 8–16% for living area across all three geographic scopes, meaning it offers more interior space than most. Its assessed value, however, is below average in every category. So it is likely one of the largest but also one of the least expensive homes in its immediate area—an unusual combination that suggests either deferred maintenance or a pricing strategy to attract renovation-minded buyers.
5. What should I prioritize in my inspection given the data?
Focus on the age-related systems: roof, foundation, electrical, plumbing, and heating. The land area is average, so drainage and grading are less likely to be unique concerns. Given the large living area, check for layout inefficiencies or signs of unpermitted additions that could affect safety or resale. The low assessment relative to size may also indicate that previous renovations were not brought up to current code, so permits and insulation should be verified.