230 Balmoral Street – Property Summary

Key Characteristics & Profile

This is a 1,676 sqft home built in 1900, situated on a 2,989 sqft lot in Winnipeg’s West Broadway area. Its assessed value is $234,000.

What stands out: The property is larger inside than most homes citywide (top 22% for living area), but sits on a relatively small lot (bottom quarter compared to city averages). The assessed value is noticeably below both the neighbourhood average ($295,400) and the citywide average ($390,100), which reflects both the modest lot size and the older construction.

Its appeal: This property offers more interior space than typical Winnipeg homes without the price tag that usually comes with it. The below-average assessment suggests potential value—either as a more affordable entry point into a central neighbourhood, or as a candidate for renovation where the square footage could be leveraged. The location on Balmoral Street places it near Broadway’s amenities while remaining outside the priciest pockets of the area.

Who it suits: Buyers who prioritize interior living space over outdoor space, and who are comfortable with an older home (1900 construction) that may need updates. It could work well for someone looking for a larger-than-average central home at a below-average price point, or for an investor interested in the gap between the low assessed value and the usable square footage. Not ideal for those wanting a big yard or a move-in-ready modern finish.

Frequently Asked Questions

1. Why is the assessed value so low compared to citywide averages?
Two main factors: the land area is well below average (2,989 sqft vs. 6,570 sqft citywide), and the home was built in 1900, making it older than roughly 99% of properties in Winnipeg. Assessed value weighs both land and improvements, so a small lot with an old building naturally lands lower.

2. Is the living area measurement accurate for a 1900 home?
The 1,676 sqft figure likely includes the main floors only. Homes of this era often have less finished basement space or lower ceiling heights in lower levels. It's worth confirming whether the listed living area includes any basement or attic conversion, as older homes can have non-standard layouts.

3. How does the street compare to the broader neighbourhood?
On Balmoral Street specifically, this property is around the middle for assessed value (top 51%) and living area (top 65%). But compared to the wider West Broadway area, both its value and lot size drop to the bottom quarter. The street itself is fairly mixed—not the weakest link in the neighbourhood, but not representative of the area's higher-value homes either.

4. What should I watch out for with a 1900-built home?
Beyond typical old-home considerations (aging electrical, plumbing, foundation), note that the land area is small. That can limit options for expansions or adding a garage without rezoning. Also, the assessed value suggests the structure may not have been heavily updated. A thorough inspection should focus on knob-and-tube wiring, lead pipes, and the condition of the original framing.

5. Could the property be a good renovation opportunity?
Possibly, but with caution. The interior square footage is a clear asset—renovating existing space could yield a solid return if the bones are sound. However, the small lot and older construction mean you won't gain much from an addition, and any major work would need to respect heritage or zoning constraints common in West Broadway. The low assessed value leaves headroom for value-add, but only if the renovation costs are kept realistic relative to neighbourhood resale values.