504 Manitoba Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,408 sqft home built in 1907, situated on a 2,901 sqft lot in Winnipeg’s William Whyte neighbourhood. What stands out is the living space: it's above average for both the street and the neighbourhood—about 345 sqft larger than nearby homes on Manitoba Avenue, and roughly 250 sqft above the William Whyte average. That extra room is the property’s main draw, especially for someone who values interior space over lot size.
The assessed value is $146,000, which is notably lower than the street average of $216,600 and well below the citywide median of $390,100. This is partly explained by the home’s age (117 years old) and its modest land area—both of which rank in the bottom quartile citywide. The lot is small, even by neighbourhood standards, so there’s not much outdoor space to work with.
The appeal here is straightforward: you get a relatively spacious interior on a small footprint, at a price point that’s well under the city average. It would suit a buyer who wants more square footage than the typical starter home but isn’t concerned about having a yard or a newer build. Investors or first-time buyers comfortable with an older home and its potential maintenance needs may find the value proposition worth a closer look. It’s less suited for someone who prioritizes land, modern construction, or a high-appraisal property.
Five Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Two main factors: the home is old (1907), and the lot is small (2,901 sqft). Citywide, both the year built and land area rank in the bottom 10%, which drags the assessed value down relative to newer, larger-lot homes elsewhere in Winnipeg.
2. Is the above-average living area actually usable, or is it layout-driven?
At 1,408 sqft, the interior is genuinely spacious for the area—ranking in the top 13% on the street and top 22% in the neighbourhood. Without floor plans, it’s hard to say how efficiently that space is laid out, but the raw square footage is well above what’s typical for comparable homes nearby.
3. What does “ranked top 97% citywide” for assessed value mean when the value is low?
It means the property is in the bottom 3% of all Winnipeg homes by assessed value—only about 5,300 homes are valued lower. The ranking confirms it’s one of the most affordable properties in the city, not just relative to the street or neighbourhood.
4. How does the 1907 year built affect practical ownership?
Older homes often come with older systems—electrical, plumbing, insulation, foundation—that may need updating. The good news is the neighbourhood average year built is 1927, so this home isn’t an outlier in its area. Still, a thorough inspection is wise, especially for a property this old.
5. What kind of buyer typically looks at a property like this?
Someone who prioritizes interior space and a low purchase price over a big yard or a modern build. It could suit an investor looking for a rental with decent square footage, a first-time buyer willing to renovate, or anyone who values location flexibility over land size. It’s not ideal for families needing outdoor space or buyers wanting a turnkey property with recent construction.