173 McKenzie Street – Property Summary
Key Characteristics and Buyer Profile
This is a compact, older home in Winnipeg’s William Whyte neighbourhood. The living area is 818 square feet—smaller than average for the street, the neighbourhood, and the city as a whole. The property was built in 1907, making it one of the older homes on McKenzie Street and in the broader city context.
Where this property stands out is its land. The lot is 3,547 square feet, which is slightly above average for the street and well above average for the neighbourhood (top 24%). That matters more than the house size for certain types of buyers—especially those willing to renovate, add on, or hold land in an older central Winnipeg area.
The assessed value is $82,000, which is very low relative to the street, neighbourhood, and city averages. This isn't necessarily a sign of poor condition—it reflects the small living area, age, and the general valuation trends in this part of the city. For a buyer, it means lower property taxes and a lower entry price, but also limited resale comparables at that figure.
Who this suits: Buyers who are comfortable with an older, small home and are more interested in lot size and location than move-in-ready square footage. It may appeal to investors looking for a teardown or major renovation on a good-sized lot in a neighbourhood with older housing stock. It is less suited to someone seeking a turnkey family home or a property that compares well to newer suburban builds.
Frequently Asked Questions
1. Why is the assessed value so low compared to the street and city averages?
The assessed value reflects the small living area, the home’s age (1907), and the general market in William Whyte. The street average is pulled up by larger, newer, or higher-value homes. Citywide, $82,000 is near the bottom because most Winnipeg homes are larger and newer. That said, low assessment means lower annual property taxes.
2. Is the small living area a problem for resale?
It can be, depending on the buyer. At 818 sqft, it's below the typical starter home in Winnipeg. However, the lot size gives flexibility—buyers could add an extension, build a new house, or simply use it as a smaller home. Resale is more about whether the next buyer sees the land as the asset.
3. How does the age of the home affect maintenance and insurance?
Homes from 1907 often have older wiring, plumbing, and foundations. Some insurance companies charge higher premiums or require inspections for pre-1950 homes. It's worth getting a thorough inspection and quotes before committing. The up side is that older homes in this area often have solid brick or stone construction and good bones.
4. What is the neighbourhood like for investment or development?
William Whyte is an older inner-city neighbourhood with a mix of rental properties and owner-occupied homes. Land values here are relatively low, but the lot size at 3,547 sqft is appealing for infill development or a side-by-side duplex conversion (if zoning permits). It's not a high-demand area like River Heights or St. Vital, so rental yields may be lower, but entry costs are also much lower.
5. How does this property compare to similar homes on nearby streets?
On McKenzie Street itself, it's around average for living area but below average for assessed value and year built. On neighbouring streets in William Whyte, the land size is a strong point—most lots in this area are 3,200–3,400 sqft. If you're looking at comparables, focus on lot size and potential, not just finished interior space.