212 Balmoral Street – Property Summary
Key Characteristics & Suitability
This 1,857 sqft home, built in 1902, sits on a 2,985 sqft lot in the West Broadway area of Winnipeg. The living space is notably larger than average for the city (top 15% citywide), though it runs slightly smaller than the typical home on Balmoral Street and within the neighbourhood. The land area is below average across all three comparison scopes—street, neighbourhood, and city—which reflects the denser, older character of the area.
The assessed value sits at $309,000, which is above the street and neighbourhood averages but below the citywide median. This suggests the property is priced competitively for its immediate context, not for the broader market. The home is very old by any standard, ranking in the bottom 1% of properties citywide by year built. That means character and original details are likely, but so are maintenance realities.
The appeal here is for a buyer who values interior space over lot size, and who is comfortable with an older home in an established neighbourhood. It would suit someone looking for above-average square footage without paying a premium for land, or an investor interested in a property with solid assessed value relative to its street. It is less likely to appeal to buyers seeking a large yard, a modern build, or a turnkey suburban home.
Five Possible FAQs
1. How does the property's assessed value compare to similar homes nearby?
The assessed value of $309,000 is above the street average ($263,600) and the neighbourhood average ($295,400), but well below the citywide average ($390,100). This suggests the market in West Broadway is more affordable than Winnipeg as a whole, and this home sits on the higher end within its immediate area.
2. Is a 1902 home a risk, or is that part of the appeal?
It depends on your priorities. A home from 1902 likely has solid original construction and character you won't find in newer builds. But it also means older systems (plumbing, electrical, insulation) and possibly outdated layouts. Any serious offer should be contingent on a thorough inspection focused on the foundation, roof, and mechanicals.
3. Why is the lot so small compared to the city average?
The land area of 2,985 sqft is below average on the street, in the neighbourhood, and citywide. This is typical for older, more central Winnipeg neighbourhoods like West Broadway, where lots were subdivided earlier and more densely. The trade-off is proximity to amenities and a smaller outdoor maintenance burden.
4. Is this home a good investment for rental purposes?
The assessed value is reasonable for the area, and the above-average living area (1,857 sqft) could appeal to tenants looking for space over yard. However, the older construction and smaller lot mean ongoing maintenance costs will be higher than a newer home. The neighbourhood ranking for value (top 36%) suggests stable but not rapid appreciation. It may work best as a long-term hold.
5. How does the living area compare to other homes in the city?
Citywide, this property ranks in the top 15% for living area, with the average comparable home being only 1,342 sqft. That means you're getting significantly more interior space than most Winnipeg homes. On Balmoral Street and in West Broadway, it's closer to average—so the size is a standout feature only when viewed against the whole city, not the immediate neighbours.