1340 Winnipeg Avenue W – Property Summary
Key Characteristics & Buyer Profile
This is a 700 sqft home on a 3,753 sqft lot, built in 1945. The property’s standout feature is its land: the lot is above average for the street and neighbourhood, ranking in the top 28% locally and top 32% in the Weston area. The home itself is small by current citywide standards—living area ranks in the bottom 10% across Winnipeg—but it’s typical for this street and neighbourhood, where older, compact houses are the norm. The assessed value ($201k) is around average on the street and slightly above average in the neighbourhood, but well below the citywide median of $390k, reflecting both the smaller footprint and the area’s pricing.
The appeal here is land value and location context, not square footage. A buyer gets a lot that can accommodate an addition, garage, or garden in a way many city lots cannot. The home is old but structurally stable for its era, and the price point undercuts newer, larger homes citywide. This property suits buyers who prioritize outdoor space or long-term redevelopment potential over move-in-ready interior size. It would also work for someone wanting to enter the Weston market at a lower cost, or for an investor eyeing a lot in a mature neighbourhood with above-average land relative to neighbours.
Frequently Asked Questions
1. Is the living area too small for a family?
Yes, if you need multiple bedrooms or open-concept living right away. At 700 sqft, this is best suited for a single person, couple, or small family willing to renovate or add space. The lot size does allow for an expansion, which many nearby properties lack.
2. How does the assessed value compare to similar homes nearby?
It’s very much in line with the street and neighbourhood averages—close to $200k. This suggests the assessment reflects the home’s age and size fairly, without major over- or under-valuation relative to neighbours.
3. What’s the neighbourhood like?
Weston is an older, established area with a mix of postwar homes and some new infill. It’s not a high-end or trendy district, but it’s stable, with decent access to amenities and transit. The property sits on a street where most homes are older and similarly sized.
4. Could this be a tear-down or redevelopment opportunity?
Possibly, depending on zoning and city regulations. The 3,753 sqft lot is larger than average for the street, which gives more flexibility. However, the home’s 1945 construction means it may have heritage or structural constraints worth checking before assuming a full rebuild.
5. How does this property stack up against citywide averages?
Poorly on living area and assessed value—both are well below Winnipeg medians—but favourably on land area (top 22% citywide). The property is a classic example of an older, inner-ring home where the lot holds more relative value than the house itself.