45 Furby Street – Property Overview
Key Characteristics & Buyer Profile
This is a 2,279 sqft home on a 4,920 sqft lot, built in 1905, with a current assessed value of $417,000. The property stands out most sharply when compared at the street and neighbourhood level. On Furby Street, it ranks in the top 5% for assessed value (the street average is $238.5k) and the top 16% for living area. Within the West Broadway neighbourhood, it ranks in the top 7% for value and top 20% for lot size. Citywide, the living area places it in the top 5%, but the assessed value sits around the city average, and the year built (1905) is in the bottom 2% of Winnipeg homes.
The appeal lies in a combination of size and relative affordability within its immediate context. You get a significantly larger home and lot than what is typical on Furby Street, and a much larger living area than the citywide average for comparable homes, without the assessed value being pushed into an elite citywide tier. The lot is also above-average for both the street and neighbourhood.
This property would best suit a buyer who is comfortable with an older home (pre-1910) in a central neighbourhood. It is likely a good fit for someone who prioritises interior space and a generous yard over a modern build or a move-in-ready finish. Buyers should be prepared for the realities of a century-old house—potential updates to systems, insulation, and layout. It may also appeal to someone looking for a value play in a neighbourhood where the immediate area’s average values are lower, while the property itself is a standout on its street.
Five Possible FAQs
1. How does the assessed value compare to what I might pay?
The city assessed value is $417,000, which is above the West Broadway neighbourhood average ($295.4k) but roughly on par with the citywide average for comparable homes ($390.1k). Keep in mind that assessed value is not the same as market price. Properties with standout features on their street—like this one—can sometimes sell above assessed value, especially if the home is well-maintained or recently updated.
2. What should I know about a home built in 1905?
This is an older home by any standard. Citywide, 98% of homes are newer. This likely means original construction methods (e.g., knob-and-tube wiring, plaster walls, potentially no modern vapour barrier). You should budget for potential work on foundation, roof, plumbing, and windows. That said, older homes in Winnipeg that have been well cared for often have solid framing and good bones. A thorough home inspection is essential.
3. How does the lot size compare to newer homes?
The lot is 4,920 sqft. That is larger than average for both Furby Street (3,976 sqft) and West Broadway (3,954 sqft), but smaller than the citywide average for comparable homes (6,570 sqft). For a central neighbourhood, this is a generous-sized lot—enough for a large garden, a garage, or future expansion. It’s not a sprawling suburban lot, but it’s well above typical for the area.
4. Is the West Broadway neighbourhood rising or stable?
The data here shows the property ranks in the top 7% of assessed value in the neighbourhood, while the neighbourhood average ($295.4k) is well below the city average. That gap can indicate either an undervalued pocket or a transition area. Some buyers see this as upside potential; others prefer more established areas. It’s worth looking at recent sales trends and driving through the block at different times of day.
5. Why is the assessed value only “around average” citywide despite the large home size?
Because assessed values in Winnipeg are driven by more than just square footage—location, condition, and neighbourhood desirability play heavily into it. While this home is in the top 5% citywide for living area, the assessed value lands around the midpoint. That suggests the home is likely not recently renovated to a high standard, or the neighbourhood’s overall market doesn’t command premiums. For a buyer, this can mean more space for your dollar, but lower immediate resale appreciation potential.