741 Elgin Avenue – Property Summary
Key Characteristics & Buyer Profile
This 1,835 sqft home on Elgin Avenue in Winnipeg’s West Alexander neighbourhood stands out primarily for its generous interior space and relatively low assessed value. Compared to other homes on the same street, it ranks in the top 6% for living area—well above the street average of 1,113 sqft. That means you’re getting a noticeably larger floor plan than most nearby properties. The assessed value, at $231,000, is also above the street and neighbourhood averages ($189,600 and $187,300 respectively), but sits well below the citywide average of $390,100. So while the home is larger than many in the area, it’s not priced accordingly when compared to newer or more centrally located properties across Winnipeg.
Built in 1905, the house is older than most citywide (top 98% in age), but roughly comparable to its immediate neighbours on Elgin and in West Alexander. The land area is 3,126 sqft—slightly below the street and neighbourhood averages, and significantly smaller than the citywide average of 6,570 sqft. That’s typical for an older, more established neighbourhood with tighter lots.
Where the appeal lies: The combination of generous living space and a below-city-average assessed value suggests good potential value, especially if you’re looking for square footage without paying a premium. The older construction and smaller lot may not suit everyone, but for a buyer who values interior room over a large yard or a modern build, this property is worth a close look.
Who it would suit: Buyers who want more space than typical homes in this price range, don’t mind an older home (with possible maintenance or updating needs), and are comfortable with a modest lot size. It could also appeal to investors or first-time buyers looking for a larger footprint in a well-established neighbourhood without stretching their budget for a newer, pricier property.
Five Possible FAQs
1. How does the home’s age compare to others nearby?
It was built in 1905, which is older than most homes citywide but fairly standard for the street and neighbourhood. The average year built on Elgin Avenue is 1932, and in West Alexander it’s 1921—so while this house is among the older ones, it’s not an outlier in its immediate area.
2. Is the assessed value a reliable indicator of market price?
Not always. Assessed value is used for property tax purposes and may lag behind current market conditions. That said, the fact that it’s above street and neighbourhood averages but well below the citywide average for comparable homes suggests it could be priced more affordably than similar-sized properties elsewhere.
3. Why is the land area smaller than the citywide average?
This is common in older, inner-ring neighbourhoods where lots were originally subdivided more tightly. The home’s lot of 3,126 sqft is slightly below the street (3,608 sqft) and neighbourhood (3,591 sqft) averages, but still within a typical range for West Alexander. If you’re looking for a large yard, this might not be the best fit.
4. What does “ranked top 6% on the street” for living area actually mean?
It means that out of 402 comparable homes on Elgin Avenue, this one has a larger living area than about 94% of them. In other words, it’s one of the biggest homes on the street by square footage—something that can be hard to find in older neighbourhoods without moving to a newer development.
5. Does the older construction mean higher upkeep costs?
Possibly, yes. Homes from 1905 often have older electrical, plumbing, and insulation, and may need more frequent maintenance. However, many older homes in this area have been updated over the years. A home inspection would be key to understanding the current condition and any immediate needs. The trade-off is often lower purchase price and more character—or more space—than a newer build.