402 Manitoba Avenue – Property Overview

Key Characteristics & Buyer Profile

This is a small, older home in Winnipeg’s William Whyte neighbourhood. The living area is below average at every level—street, neighbourhood, and citywide—with no ranking data available for comparison, which suggests it’s among the smallest homes in its immediate area. The assessed value is also very low: $55,000, ranking near the bottom on its street, in the neighbourhood, and across the city. The year built isn’t ranked, but given the neighbourhood average of 1927 and street average of 1945, this is likely an early- to mid-20th-century property.

The land area is a mixed story. At 3,482 sqft, it’s below the street and city averages. However, within the William Whyte neighbourhood, it ranks in the top third, meaning the lot is around average or slightly better for the immediate area. That gives the property a modest but functional yard relative to nearby homes.

The appeal here is straightforward: this is an entry-level price point in an older, inner-city neighbourhood. It would suit buyers who are looking for the lowest possible purchase price—whether as a first home, a fixer-upper, or an investment property where land or location (rather than the building itself) is the primary value. It’s not for someone seeking space, modern finishes, or a high-value asset. The low assessed value may also appeal to investors eyeing properties with potential for renovation or redevelopment, though the lot is smaller than citywide norms. The lack of living-area ranking data is worth noting—it may indicate an unusual layout or a home that doesn’t fit standard comparisons, so an in-person visit is essential.

Five Frequently Asked Questions

1. Why is the assessed value so low compared to other homes in the city?
The assessed value reflects the home’s small size, older age, and likely condition. The $55,000 figure places it well below the citywide average for comparable homes ($390,100). Assessment is based on market data, so this suggests the home is considered a lower-value asset in its current state—possibly due to deferred maintenance, an outdated interior, or a smaller footprint than typical homes in Winnipeg.

2. The land area ranks well in the neighbourhood but poorly citywide. What does that mean in practical terms?
Within William Whyte, many lots are smaller than the city average, so a 3,482 sqft lot is fairly typical. Across all Winnipeg properties, this lot is on the smaller side (the citywide average is 6,570 sqft). So while you’re not getting a huge yard, you’re not at a disadvantage compared to nearby houses. It’s a reasonably sized urban lot for the area.

3. Is there any data on the interior or condition of the home?
No. The property detail only provides ranking data for size, land, and assessed value. There are no notes on renovations, structural condition, or interior finishes. Buyers should plan for a thorough inspection and assume the home may need significant work, especially given the low assessed value and older age.

4. How does this property compare to others on the same street?
It ranks near the bottom of Manitoba Avenue for assessed value (762 out of 761) and has a smaller land area than most (576 out of 761). It’s also among the smaller homes in terms of living area (no ranking data, but the street average is 1,063 sqft). In short, it’s one of the least valuable and smallest properties on the street.

5. What type of buyer would this property not suit?
Anyone looking for a turnkey home, significant square footage, or a property with strong resale value in the short term should look elsewhere. This is also not well suited for buyers who need a large lot for gardening, parking, or future expansion—the land is smaller than the city average, and while it’s average for the neighbourhood, it won’t accommodate major additions without careful planning.