704 Pritchard Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 704 sqft home on a 3,009 sqft lot, built in 1905, in Winnipeg’s William Whyte neighbourhood. The assessed value is $97,000.
What stands out: The property is small by every measure—living area, land, and assessed value all rank well below street, neighbourhood, and city averages. The land area is the one metric where it lands close to the neighbourhood norm (top 57%), but city-wide it still falls in the bottom 12%. The year built (1905) places it among the older homes in the area, though not unusually so for the neighbourhood.
Where the appeal lies: This is not a turnkey or conventional family home. Its main draw is price point and potential. At $97k assessed, it sits near the very bottom of the city’s valuation range (top 100% in the lowest bracket). For someone looking to enter the market with minimal capital, or for an investor willing to put work into a smaller, older property, the numbers here are hard to find elsewhere in Winnipeg. The lot, while modest, is still typical for the area—so the land itself is not the limiting factor as much as the small house footprint.
Buyers it would suit: First-time buyers with a tight budget and a tolerance for renovation or quirks. Investors focused on low entry cost in a lower-priced neighbourhood, possibly for a rental or a flip after significant work. Anyone specifically drawn to older character homes (pre-1910) who isn’t fazed by small square footage. Not a fit for someone expecting modern finishes, generous space, or a quick resale.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
On Pritchard Avenue, the average assessed value for comparable homes is $182,200. This property is valued at $97,000—roughly 53% of the street average, and among the lowest on the street (top 92% in the bottom tier). Neighbourhood-wide, it’s still notably below average (top 81%), which means most homes in William Whyte are valued higher.
2. Is the small living area a problem for resale?
It depends on the buyer pool. The property ranks in the bottom 13% city-wide for living area (704 sqft), which limits the pool to people who don’t need much space or who plan to add square footage. That said, the street and neighbourhood averages (1,048 and 1,158 sqft) suggest many nearby homes are noticeably larger—so it may stand out as an outlier, for better or worse. Resale could be slower, but the low entry price offsets some of that risk.
3. What’s the condition like? Is it livable as-is?
The data doesn’t include condition details. Based on the age (1905), low assessed value, and below-average ranking on every metric, it’s reasonable to expect deferred maintenance or outdated systems. A home inspection and a walk-through are essential before assuming it’s move-in ready. The low value may reflect needed repairs.
4. How does the lot size affect usability?
The land area is 3,009 sqft—slightly below the street average (3,730 sqft) but close to the neighbourhood average (3,277 sqft). For the area, this is a typical city lot. It’s not oversized, but it’s not unusually cramped either. The limitation is more about the house footprint than the land itself. If someone wanted to expand or rebuild, the lot is workable.
5. What are the main risks with a property like this?
The biggest risk is underestimating the cost and scope of upgrades. At $97k assessed in a neighbourhood where the average home is valued at $149k, the low price may signal structural or systemic issues rather than cosmetic ones. Another risk is that the market for small older homes in this part of the city may not appreciate quickly. Third, the 1905 construction date means potential challenges with insulation, wiring, plumbing, and foundation—things that are harder to fix after purchase.