518 Aberdeen Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a compact, older home in Winnipeg’s William Whyte neighbourhood. At 680 square feet, it’s smaller than most homes on its street, in its area, and across the city—ranking in the bottom 3% citywide for living space. The assessed value of $112,000 is similarly low, particularly against the citywide average of $390,100, though it sits closer to the neighbourhood average of $149,100. Built in 1907, the house is older than nearly all comparable citywide properties (top 96% oldest) but is more typical of its immediate street and area. The land is a modest 3,003 square feet—around average for the street and neighbourhood, but well below the citywide average of 6,570 square feet.
The appeal here is straightforward: this is a low-entry-price property in an area where land values and assessments are relatively compressed. It would suit a buyer who prioritizes affordability and is comfortable with a smaller footprint and an older structure. This isn’t a home for someone seeking move-in-ready space or a large lot. It’s more likely to interest first-time buyers with limited budgets, investors looking for a low-cost entry into the Winnipeg market, or someone willing to take on renovation work in a neighbourhood where property values are generally modest.
Frequently Asked Questions
1. Why is the assessed value so low compared to the citywide average?
The citywide average includes many newer, larger homes in higher-value areas. This property is in William Whyte, a neighbourhood where assessments and sale prices tend to be well below the Winnipeg median. The home’s small size and age also contribute.
2. Is the “below average” ranking for living area a problem?
It depends on your needs. The house is small by any standard, but that also means lower maintenance costs and potentially lower utility bills. It’s worth considering whether the layout uses the 680 square feet efficiently—older homes sometimes have surprising storage or room layouts.
3. What does the “Top 89%” ranking for land area mean citywide?
It means the lot is smaller than 89% of properties citywide. While that sounds limiting, the lot is actually typical for this street and neighbourhood. In this area, a smaller lot often means less yard work and a more established, walkable block.
4. Should the 1907 build date be a concern?
It’s a factor, but not a dealbreaker on its own. Many homes of this era in Winnipeg have solid construction and have been updated over time. The key is to check for knob-and-tube wiring, old plumbing, and foundation condition. A home inspection is strongly recommended.
5. How does this property compare to others currently for sale in William Whyte?
That depends on the current listings. Generally, homes in this neighbourhood tend to be older, smaller, and priced below the city average. This property’s value and size are consistent with the area’s character. Checking recent sales in the same 1-2 blocks will give you the most useful comparison.