513 Aberdeen Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a small, older home in Winnipeg’s William Whyte neighbourhood. The living area is 601 square feet—well below average for its street, neighbourhood, and the city as a whole. The assessed value is $69,000, which ranks near the bottom locally and citywide. Built in 1907, it’s older than most homes on its street and in the neighbourhood, though not unusually so for the area. The land lot is 2,998 square feet, slightly below the street and neighbourhood averages but still modest by city standards.
The appeal here is primarily affordability and entry-point pricing. For a buyer looking for the lowest possible purchase price in a central Winnipeg neighbourhood, this property delivers that. It’s not a “charming fixer-upper with potential” in the usual sense—it’s a genuinely small, low-value home on a modest lot. That said, the neighbourhood has older housing stock and some character, and properties at this price point may appeal to investors seeking low-carry costs, first-time buyers with limited budgets, or someone willing to take on a full renovation from the ground up. The land-to-building ratio is more balanced than in many newer suburbs, so there may be some flexibility for expansion or redevelopment, depending on zoning.
This property is not well-suited for someone seeking space, modern finishes, or strong resale comparables. It’s a niche listing: low barrier to entry, but also low upside without significant work.
Five Possible FAQs
1. How does this property compare to others on nearby streets?
It ranks very low. On Aberdeen Avenue, it’s in the bottom 2% for assessed value and bottom 7% for living area. The neighbourhood as a whole (William Whyte) has below-average property values and older homes, but this one is still near the bottom even within that context.
2. Is this a good candidate for a complete gut renovation?
It could be, but the small footprint (601 sqft) limits what you can achieve without an addition. The lot (2,998 sqft) is below the neighbourhood norm, so any expansion would need careful planning. Renovation costs could easily exceed the purchase price, and resale value may not support that investment unless the whole area appreciates.
3. What’s the land actually like?
The lot is 2,998 square feet—about 90% of the street average. It’s a standard urban lot for this part of the city, not oversized but not unusually tight either. The house takes up a significant portion of it, so yard space is limited.
4. Why is the assessed value so low?
The assessment reflects both the small living area and the property’s condition relative to its neighbours. Winnipeg assessments are based on market value, and comparable homes on the street average $167,700. This one is far below that, which typically indicates a property that is smaller, older, or in notably worse condition than its peers.
5. Would this property appeal to an investor?
It depends on the strategy. For a buy-and-hold investor focused on low carrying costs and rental income, it could work at this price point. But the margins are tight: any renovation would eat into returns, and rental rates for a 600-square-foot home won’t match those of larger units. It’s a low-risk entry but also low-reward unless the neighbourhood sees significant gentrification.