Property Summary: 500 Manitoba Avenue, Winnipeg
Key Characteristics & Buyer Profile
This is a home that stands out for its age, not its size. Built in 2003, it’s significantly newer than almost everything around it—ranked in the top 10% on the street and top 16% city-wide, where the average home dates to 1966. The living area is 1,080 square feet, which is essentially average for the street and neighbourhood, and slightly below the citywide median. The assessed value of $200,000 is above average for the neighbourhood (William Whyte) but well below the citywide average—this reflects the property being in a lower-cost area while offering newer construction.
The appeal lies in getting a relatively modern house without paying a modern price. Buyers here are trading location prestige and land size for a newer build that likely requires less immediate maintenance or renovation. The land is small (3,244 sqft), ranking in the bottom 20% on the street, so this suits someone who wants a manageable, low-upkeep yard rather than space for gardens, workshops, or large families. The property would suit first-time buyers, downsizers, or investors looking for a turnkey asset in a neighbourhood where prices are still accessible. It may also appeal to buyers who prioritize energy efficiency or modern building standards over historic character.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
On the street, it’s roughly average. In the neighbourhood, it’s above average—this is because the house is much newer than most nearby, which offsets the smaller lot. City-wide, it’s below average, reflecting that the neighbourhood overall has lower property values.
2. Is the living area considered small for Winnipeg?
It is slightly below the citywide average of 1,342 sqft, but within a normal range for the neighbourhood and street. It’s a typical size for a postwar starter home, but this one was built in 2003, so the layout and insulation may be more efficient.
3. Why is the assessed value higher than the neighbourhood average if the lot is small?
Assessed value is driven mainly by the dwelling itself—its size, condition, and year built. A 2003 house in a neighbourhood of older homes (average year built 1927) commands a premium for being newer, even on a smaller lot.
4. What does it mean that the land ranks in the top 82% on the street?
That means 82% of homes on Manitoba Avenue have larger lots. This property has a below-average land area—just under 3,300 sqft. It’s a compact lot typical of infill or newer subdivisions, not the deep lots common in older parts of the city.
5. Is this home a good candidate for renovations or additions?
Possibly, but the small lot may limit expansion. A two-storey addition or a dormer could add living space without needing more land. The newer construction means the foundation and framing are likely in good shape, but any structural changes would need to respect setback rules and neighbourhood zoning. Buyers should confirm with the city before planning major work.