304 Milton Street – Property Summary
1. Key Characteristics & Buyer Profile
This is a 1911-built home with 700 square feet of living space sitting on a notably large 5,177-square-foot lot. The property ranks well below average in size and assessed value across its street, neighbourhood (Weston), and citywide, but stands out sharply for its lot. On Milton Street, it has the second-largest land area (top 13%), and within the wider Weston area, it ranks in the top 6% for lot size. The house itself is old—older than most neighbours on the street and far older than the city average—but the land is the real asset here.
The appeal lies in the imbalance: a modest, dated home on a generous piece of ground. For a buyer looking to renovate, subdivide, or hold a larger inner-city lot, the building is almost secondary. The assessed value of $138,000 is low relative to the street ($175,500 avg), neighbourhood ($184,700 avg), and city ($390,100 avg), which partly reflects the small living area and age, not the land’s potential. Living space ranks at the very bottom citywide (top 96% means 96% of homes are larger), so this is not a property for someone seeking move-in-ready space.
This property suits a buyer with a longer-term perspective: someone comfortable with an older, smaller footprint who sees value in the land. It may also appeal to investors or developers looking for a redevelopment opportunity in a central neighbourhood where large lots are uncommon. It is less suited to a first-time buyer wanting a typical modern home or someone needing immediate square footage.
2. Five Possible FAQs
1. Is the house livable as-is, or does it need major work?
The property detail doesn’t describe condition, but the low assessed value and age (1911) suggest it likely needs updates. A full inspection is recommended. The land is the main draw, not the current structure.
2. Why is the assessed value so much lower than the city average?
Assessed value is based on the building and land combined. This home has only 700 sqft of living space, which is well below the city average of 1,342 sqft. The older age also drags value down, even with a large lot.
3. Can I build a second unit or subdivide the lot?
The lot is 5,177 sqft—large for the street and area—but zoning rules in Weston and neighbourhood specifics aren’t listed here. You’d need to check with the city of Winnipeg’s planning department. The size alone makes it worth investigating.
4. How does this home compare to others on Milton Street?
It has the second-biggest lot on the street (top 13%) but ranks near the bottom for living area (14th out of 16) and assessed value (15th out of 16). The building is slightly older than the street average (1911 vs. 1929). It’s an outlier: more land, less house.
5. Is the neighbourhood of Weston generally affordable?
The data here focuses on this specific property, not broad neighbourhood trends. However, the average assessed value in Weston for comparable homes is $184,700, which is below the citywide average of $390,100. That suggests homes in the area tend to be more affordable relative to the rest of Winnipeg, but this particular house on its large lot may not follow the typical pattern.