288 Langside Street – Property Summary
Key Characteristics & Buyer Profile
This is a character-rich home built in 1895, located on Langside Street in Winnipeg’s West Broadway neighbourhood. The property stands out most for its living area: at 2,110 square feet, it ranks in the top 12% on the street and top 8% citywide. The land is also notably generous for the immediate street, measuring 3,760 square feet (top 6% on Langside), though it falls closer to the neighbourhood average and below the citywide median for lot size.
The assessed value is $242,000—around average for the street but well below the neighbourhood average of $295,400 and significantly under the citywide average of $390,100. This means the property offers a lower entry price relative to its interior space. The home is older than most in all three comparison groups, which means a buyer should expect character details, potential heritage restrictions or upkeep requirements, and possibly less modern insulation or systems.
Who it suits: Buyers who prioritize square footage and lot size over a move-in-ready, updated finish. Ideal for someone willing to invest in renovations or maintenance to unlock the value of a large, older home in a central location. Less suited to those seeking a newer, low-upkeep property or a large yard by city standards.
Five Possible FAQs
1. Why is the assessed value so low compared to the neighbourhood and city averages?
The low assessment likely reflects the home’s age and condition relative to newer or renovated properties nearby. Older homes often have lower assessed values, especially if they haven’t had major updates. This can be an advantage for property taxes, but it also signals that comparable sales in the area may be higher.
2. How does the land area compare to typical Winnipeg lots?
The lot is 3,760 square feet, which is large for Langside Street (top 6%) but only average for West Broadway and well below the citywide median of 6,570 square feet. In Winnipeg, many newer suburban lots are significantly larger.
3. Is the year built a concern for financing or insurance?
Some lenders and insurers have stricter requirements for homes over 100 years old. It’s worth confirming with your mortgage broker and insurance provider, especially if the home has original wiring, plumbing, or knob-and-tube electrical systems. Older homes can also have higher insurance premiums.
4. What does “top 12% on the street” mean for resale value?
It means this home has more living space than 88% of comparable houses on the same street. Larger homes often have a higher ceiling for resale value if updated well, but they can also be harder to sell if the layout or condition doesn’t match buyer expectations.
5. Is West Broadway a stable or changing neighbourhood?
West Broadway is an older, centrally located area with a mix of rental and owner-occupied properties. It has seen some reinvestment in recent years but still has below-average assessed values compared to the city. Buyers should look at recent sales trends and development plans, as neighbourhood dynamics can shift.