696 Selkirk Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,503-square-foot home built in 1909, situated on a 2,836-square-foot lot in Winnipeg’s William Whyte neighbourhood. Its standout feature is living space. At 1,503 square feet, it ranks in the top 12% on its street and top 17% in the area—meaning it’s notably larger than most nearby homes. The assessed value, however, tells a different story: $108,000, which is well below street, neighbourhood, and city averages. That gap between size and price is where the property’s real appeal lies. For a buyer who values interior square footage over lot size or a modern build, this home offers more room for less money than most comparables. It would suit someone comfortable with an older home (pre-war construction, likely with character details but also potential maintenance needs) who prioritizes living area per dollar over curb appeal or a large yard. The lot is modest, and the house is among the older ones on the block and in the city overall, so a buyer should be prepared for age-related upkeep and possibly lower resale liquidity if that’s a concern. This isn’t a turnkey flip or a move-in-ready starter for someone seeking a low-maintenance property—it’s more of a space-for-value play in an older urban neighbourhood.

Five Frequently Asked Questions

1. Why is the assessed value so low relative to the square footage?
The home is older (1909) and sits on a smaller-than-average lot in a neighbourhood where median assessed values are already modest. Assessed value reflects a combination of age, condition, location, and land size—not just interior space. A large house does not automatically mean a high valuation.

2. How does the neighbourhood compare to the rest of Winnipeg?
William Whyte tends to have older homes and more moderate assessed values compared to the city as a whole. This property is actually above average for the neighbourhood in living area but below average in assessed value, which supports the idea that you’re getting more space per dollar here than in many other areas of the city.

3. Is the older construction a drawback or an advantage?
It depends on your priorities. Older homes often have solid framing, higher ceilings, and character details that newer builds lack. But they can also come with outdated wiring, plumbing, insulation, and potential lead paint or asbestos. A thorough inspection is strongly recommended, and budgeting for updates should be expected.

4. What kind of buyer would this property not suit?
Anyone looking for a large yard, a quick resale, a modern open-concept layout, or a home in a newer suburb likely won’t find this a good fit. Similarly, buyers who need a move-in-ready condition without any work should be cautious. The low assessed value may also make financing trickier if the sale price is significantly higher than the appraisal.

5. Can the assessed value change significantly after a renovation?
Yes. Assessed values are based on municipal valuations that consider physical improvements. If you update the kitchen, bathroom, or mechanical systems, the assessment could rise, which would also increase property taxes. That said, in this neighbourhood, the ceiling for value gains may be lower than in higher-demand areas, so it’s worth running the numbers before investing heavily.