Property Summary: 1573 Elgin Avenue W, Winnipeg
Key Characteristics & Buyer Profile
This 1905-built home in the Weston neighbourhood offers 1,154 sq. ft. of living space on a 3,220 sq. ft. lot. Its standout feature is the living area—above average for the neighbourhood (top 16%) but roughly average for its street and citywide. The assessed value of $144k is significantly below both street and city averages, reflecting the home’s age and likely need for updates. The lot is typical for Weston but smaller than the Winnipeg norm.
The appeal here is pragmatic: lower-than-average price point relative to the city, with interior square footage that actually outperforms many nearby homes. This isn’t a turnkey property for someone expecting modern finishes or a large yard. Instead, it suits buyers who are comfortable with an older home (the ranking confirms it’s among the oldest in the city) and who see potential in updating gradually. The location in Weston offers established streets and proximity to services, though buyers should check actual condition and renovation needs carefully—the low assessment isn’t arbitrary.
This property would best fit:
- First-time buyers priced out of newer or more central Winnipeg neighbourhoods
- Investors looking for a low-entry rental or flip, provided they can budget for substantial work
- DIY owners comfortable with older-home maintenance and willing to make cosmetic updates over time
- Anyone who values interior space over lot size and is flexible on age or prestige of the area
Five Frequently Asked Questions
1. How do the rankings work, and what do they actually mean?
The rankings compare this property to “comparable homes” within the same street, neighbourhood, and city. A higher rank (closer to #1) means the home performs better in that category—larger living area, newer year built, higher assessed value, or bigger lot. The percentage shows what share of peers you outperform. For example, top 16% for living area in Weston means only 15% of comparable neighbourhood homes have more space.
2. Why is the assessed value so low compared to other homes nearby?
Age is a major factor. At 1905, this is one of the oldest homes in Weston and in Winnipeg overall. Assessed value reflects the city’s estimate of market value, which accounts for condition, depreciation, and outdated systems or finishes. Homes built in the 1930s or later in the same area have higher averages. A low assessment can be an advantage for property taxes but may also signal deferred maintenance.
3. Is the living area of 1,154 sq. ft. actually usable, or does it include odd spaces?
The ranking data suggests this is a straightforward comparison against similar homes, so the figure likely reflects finished, above-grade living space typical for MLS listings. That said, older homes sometimes include enclosed porches or converted rooms in their total. A viewing or floor plan review is needed to confirm layout and practicality.
4. How does the smaller-than-average lot affect future value or renovations?
A 3,220 sq. ft. lot is typical for Weston but below the Winnipeg average of 6,570 sq. ft. This limits expansion potential—adding a garage, large deck, or major addition may be tight. However, maintenance costs (lawn, fencing, snow clearing) are lower. For buyers who don’t prioritize outdoor space, it’s not a drawback; for families wanting room to grow, it may feel cramped.
5. What should I watch out for with a 1905 home in this price range?
Homes from this era often have knob-and-tube wiring, outdated plumbing (cast iron or galvanized pipes), limited insulation, and potential foundation issues. The low assessed value and age ranking (top 98% oldest citywide) suggest these may not have been fully addressed. A thorough home inspection is essential, with focus on electrical, heating, plumbing, and the condition of windows and roof. Budgeting for upgrades over the first few years is realistic.