702 Burrows Avenue – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1,660 sqft home built in 1913, situated on a 2,463 sqft lot in Winnipeg’s William Whyte neighbourhood. The standout feature is the living area: it’s significantly larger than most homes on the street (top 9%) and in the broader neighbourhood (top 10%). That extra square footage comes in a structure that’s over a century old, which suggests generous room sizes and period details, but also likely means older mechanicals and maintenance needs.
The assessed value tells a different story. At $144k, it sits well below the street average of $227k and far below the citywide average of $390k. This combination—above-average space paired with below-average valuation—makes for an interesting disconnect. You’re getting more interior room than most nearby homes, but the market isn’t pricing it that way, possibly reflecting the older construction, smaller lot, or neighbourhood dynamics.
The lot itself is compact: 2,463 sqft, ranking in the bottom 16% on the street and bottom 9% in the neighbourhood. That limits outdoor expansion or large-scale renovations requiring more land.
Who this suits: Buyers who prioritize indoor square footage over land—someone who wants generous living space on a modest, low-upkeep lot. It could work well for a first-time buyer looking for room to grow, or a renovator who sees upside in a property where the assessed value hasn’t caught up to the interior size. It’s less suited for anyone wanting a large yard, a newer home, or a property with strong curb-appeal comps on the street.
Frequently Asked Questions
1. The assessed value seems low compared to the living area. Is the house in bad shape?
Not necessarily. Assessed value lags behind market conditions and reflects a range of factors: age, lot size, neighbourhood trends, and condition at the time of assessment. The low valuation relative to square footage could mean the home needs updating, but it could also simply mean the market hasn’t yet priced in the extra space. A home inspection would clarify the actual condition.
2. The lot is small. Can I add an extension or garage?
With only 2,463 sqft of land, options are limited. Adding a detached garage, a rear addition, or a deck would need to be checked against Winnipeg’s zoning bylaws and setback requirements. You’ll want to consult the city’s property file before planning any major changes.
3. How does the year 1913 affect insurance and utilities?
Older homes often have knob-and-tube wiring, galvanized plumbing, or asbestos in insulation or siding—all of which can raise insurance premiums or require upgrades. Heating and cooling efficiency will also likely be lower than a modern build. Budget for higher utility costs and a specialist inspection that checks for these specific issues.
4. Why is the assessed value “around average” in the neighbourhood but “below average” citywide?
The neighbourhood (William Whyte) has its own baseline—median values around $149k—so the home fits right in locally. Citywide, the median jumps to $390k, pulling in pricier areas like River Heights or St. Vital. This home’s value is typical for its immediate area but low compared to the city as a whole.
5. What does “top 9% for living area” actually mean in square footage terms?
It means only 9% of homes on Burrows Avenue have more interior space than 1,660 sqft. The street average is 1,116 sqft, so you’re getting about 50% more room than a typical house on the same block. That’s the property’s main differentiator—space that stands out relative to everything around it.