Property Overview: 508 Aberdeen Avenue, Winnipeg
Key Characteristics & Appeal
This home, built in 1917, presents a practical opportunity in Winnipeg's William Whyte neighbourhood. Its primary appeal lies in offering more interior space than many immediate peers. With 1,232 square feet of living area, it ranks in the top 20% on its own street for size, providing a notably roomier footprint than the local average. The lot size of just over 3,000 square feet is consistent with the area.
The assessed value of $116,000 is a defining characteristic. It sits below the street average but aligns with the broader neighbourhood average, highlighting William Whyte as an accessible entry point into the Winnipeg market. This creates a specific value proposition: you are acquiring a home that is physically larger than many nearby properties, at a price point that is very competitive within the citywide context. It’s a classic example of location-driven affordability.
This property would suit first-time buyers or investors seeking a straightforward, value-oriented entry into homeownership. It’s for those who prioritize interior space and a lower financial barrier to entry over a newer build or a larger city-style lot. A thoughtful buyer might see potential in the fact that the home’s assessed value is significantly below the city average, suggesting any future market uplift in the area could be meaningful on a percentage basis. The age of the home means due diligence on maintenance and systems is essential.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Property assessments are based heavily on local market values. William Whyte is historically one of Winnipeg's more affordable neighbourhoods, so assessed values here are naturally lower than the citywide benchmark, which includes many newer and higher-priced areas.
2. How does the age of the home (1917) affect things?
While the home is older than most in Winnipeg, it is actually around the average age for the William Whyte area. This means local contractors are likely familiar with the construction styles and common issues of homes from this era. A thorough inspection is crucial to understand the condition of the foundation, wiring, plumbing, and roof.
3. The data shows no sales history. How can I determine a fair offer price?
The page suggests contacting them directly for manually researched sale figures. It’s also advisable to work with a real estate agent who can perform a Comparative Market Analysis (CMA) using the most current MLS data, which is not displayed here, to evaluate recent sales of comparable homes.
4. What does it mean that the living area is "above average" for the street?
This is a relative strength. Compared to other homes on Aberdeen Avenue, this property offers more interior space. For a buyer, this means potentially more room for a growing family, a home office, or general living comfort than other similarly priced options on the same block.
5. Are the nearby listed properties direct comparisons?
The "nearby properties" and "similar assessed value" lists are for reference, showing other homes in the data system. They may differ in condition, updates, and exact location. A home at 484 Aberdeen, for example, was built in 2019 and has a higher assessment. These lists underscore the variety within the area and the importance of viewing properties in person.