Here is a clean, standalone summary of 97 Spence Street, presented in two main sections.
Property Overview & Buyer Profile
This is a character-driven home built in 1901, standing on a notably large lot in Winnipeg’s West Broadway area. Its key appeal is space: the house offers 2,655 square feet of living area, ranking it in the top 2% citywide for size. The lot is similarly generous at 5,644 square feet, well above the street and neighbourhood averages. This means the property provides room to spread out—both inside and out—that is increasingly rare in the city. The assessed value sits around $347,000, which is above the street average but below the citywide average for comparable homes, suggesting a potential value gap relative to the sheer square footage.
The property would best suit a buyer who values space and potential over a move-in ready, modern finish. Given the older construction year and the fact that the home ranks lower citywide for assessed value, it may appeal to someone looking for a project—perhaps an investor, a renovator, or a family wanting to craft a large home in an established neighbourhood without paying a premium for the city’s hottest areas. The location on Spence Street also means the owner is buying into a denser, older urban fabric, not a suburban subdivision, so the buyer should be comfortable with that character and the quirks of a home over 120 years old.
Frequently Asked Questions
1. How does the home’s age compare to other properties nearby?
The house was built in 1901, making it older than most on the street (where the average build year is 1909) and significantly older than the citywide average of 1966. This is a historic property, and buyers should expect systems and structures that reflect its age, even if updated.
2. Is the assessed value a good deal relative to the size?
The home’s living area ranks in the top 2% citywide, but its assessed value ($347k) ranks only in the top 55%, below the citywide average. This discrepancy between size and value often indicates either a less updated interior, a less desirable location by some metrics, or a mix of both. For a buyer who can invest in updates, it may represent good value per square foot.
3. What does the lot size mean for potential use?
At 5,644 square feet, the lot is significantly larger than the street average (3,987 sqft) and neighbourhood average (3,954 sqft). This extra outdoor space is uncommon for the area and could suit gardening, storage, parking, or future expansion, depending on zoning.
4. How does the street and neighbourhood compare to the rest of Winnipeg?
Spence Street and West Broadway are older, centrally located areas. The house ranks well compared to nearby homes (top 8–12% for living area and lot size on the street). However, it ranks only average citywide for assessment—meaning the immediate area is not among the city’s most expensive, but the house itself stands out locally.
5. What should a buyer look out for with a home from 1901?
Older homes often have original foundations, wiring, plumbing, and insulation that may not meet modern standards or building codes. A thorough inspection is essential. On the positive side, older construction often means solid, well-seasoned materials and architectural details not found in newer builds.