1503 Elgin Avenue W – Property Summary
Key Characteristics & Buyer Profile
This 694 sqft home, built in 1954, sits on a 2,597 sqft lot in Winnipeg’s Weston neighbourhood. Its main appeal is affordability relative to the broader city market. The assessed value of $186,000 is near the street and neighbourhood averages, but well below the citywide median of $390,100. In other words, you’re paying significantly less than most Winnipeg homeowners, even though the property itself isn’t notably cheap for its immediate area.
The trade-off is space. The living area ranks in the bottom 20% on the street and bottom 3% citywide. The land is also compact—smaller than most lots on Elgin Avenue and well under the typical Winnipeg lot size. The house is older (1954), but that’s actually ahead of the curve on this street, where many homes date to the 1930s, and in the neighbourhood, where the average build year is 1937.
This property would suit a first-time buyer prioritizing price and location over square footage, or an investor looking for an entry-level rental in a modest but established neighbourhood. It may also appeal to someone who values a smaller home and yard for lower maintenance, rather than maximum space. The key question for a buyer is whether the below-average living area and lot size are acceptable given the below-average price.
Five Possible FAQs
1. How does this home compare to others on the street?
On Elgin Avenue, this home is typical in assessed value but smaller than most. It ranks 172nd out of 402 homes for value (top 43%) and 344th for living area (bottom 17%). It was built more recently than about three-quarters of the street’s homes.
2. Is the assessed value a good indicator of market price?
Assessed value is a rough guide, not a guarantee. This home is assessed at $186,000, close to the street and neighbourhood averages. But citywide, it’s well below the median, which suggests it’s competitively priced for buyers on a tighter budget. Market conditions and property condition will ultimately determine the sale price.
3. Why is the living area so much smaller than the city average?
This home is 694 sqft, while the citywide average for comparable homes is 1,342 sqft. That’s partly because it’s an older, more modest house in a working-class area. Many newer homes in other parts of Winnipeg are much larger. If you’re used to apartment or condo living, the size may feel normal; if you’re used to suburban homes, it will feel tight.
4. Is the small lot a problem for resale?
It depends on the buyer. The lot is 2,597 sqft, which is smaller than most on the street (average 3,608 sqft) and well below the city average (6,570 sqft). Some buyers prefer a low-maintenance yard. But if future buyers are looking for space for a garden, garage, or addition, the small lot could be a limitation.
5. What’s the neighbourhood like in terms of home ages and values?
Weston has older housing stock—most homes were built in the late 1930s, so a 1954 build is actually newer than average. Values are clustered in the mid-$180,000s, with a fairly narrow range. This isn’t a high-growth area, but it’s established and stable, with a mix of longtime residents and new owners. The compact lots and smaller homes here tend to attract buyers who aren’t looking for a “starter castle.”