649 Manitoba Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 2,208 sqft home on a 4,439 sqft lot, built in 1911, located in the William Whyte neighbourhood of Winnipeg. The property’s living area is its standout feature: it ranks in the top 2% on the street and within the neighbourhood, and the top 6% citywide. The lot is also notably large for the area, sitting in the top 7% of the neighbourhood. The assessed value of $168,000 is roughly average for the street and neighbourhood, but well below the citywide average for comparable homes. The year built is older than most nearby properties and significantly older than the citywide average.
The appeal lies in the combination of generous interior space and a deep lot at a relatively moderate assessed value. For buyers, this means getting significantly more square footage than typical homes in the area, on a property that hasn’t been priced up to match its size advantage. The older construction date (1911) suggests original character, but also potential upkeep considerations. It suits buyers who prioritize space and lot size over a modern build, and who are comfortable with an older home, possibly with renovation potential. It might also appeal to someone looking for a property in a transitioning neighbourhood where the current assessment hasn’t yet caught up to the physical attributes of the home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average when the living area is so large?
Assessed value reflects the city’s estimate of market value based on recent sales of comparable homes, not just size. While this home has a larger living area than most in the city, its location in William Whythe and older construction year likely anchor the value lower than newer or more centrally located homes of similar square footage.
2. The “year built” is 1911. What should I expect from a home this age?
You should expect original construction methods, which can include plaster walls, knob-and-tube wiring (if not updated), lead paint, and a foundation that may need inspection. That said, older homes often have solid framing and higher-quality lumber. A thorough home inspection is essential, particularly for the electrical, plumbing, and foundation.
3. The lot is large for the neighbourhood. What does that mean practically?
A 4,439 sqft lot provides more yard space than most nearby homes, which average around 3,277 sqft. This could mean room for a garage, garden, or future addition. However, check local zoning bylaws—some older lots have irregular shapes or setback restrictions that limit what you can actually do with the extra land.
4. How does this property compare to others currently for sale in William Whyte?
The data shows this home’s living area is in the top 2% of the neighbourhood, so most other listings will be smaller. Its assessed value is near the neighbourhood average, meaning you’re getting more space for roughly the same assessment as smaller homes. Be aware that “assessed value” and “asking price” can differ, so compare actual list prices on the market.
5. Is this a good investment property?
It could be, depending on your goals. The low assessed value relative to size suggests potential for value-add improvements. However, the older construction and below-average citywide ranking for year built mean renovation costs could be higher than for a newer home. The large lot does offer future development potential, but you’d need to verify what’s allowed. The property’s strongest investment case is for someone who can add value through updates while keeping carrying costs low due to the modest assessment.