774 Honeyman Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,706-square-foot home built in 1905, on a 3,609-square-foot lot in Winnipeg’s Wolseley neighbourhood. Its assessed value is $201,000.
The property’s main appeal is its lot size relative to the neighbourhood. Within Wolseley, the lot ranks in the top 29%—larger than most nearby properties. The living area is also above average citywide, ranking in the top 21% for Winnipeg. However, the assessed value is well below both neighbourhood and city averages (top 99% and top 92% respectively), which suggests the home itself may need updating or that its market value hasn't kept pace with its lot or location.
This would suit a buyer who values land over finished square footage—someone looking for a larger Wolseley lot without paying a premium for a fully renovated house. It may also appeal to buyers comfortable with an older home (built 1905) who see potential to add value over time, either through renovations or by holding the property as land becomes more scarce in the neighbourhood. It is less suited to someone seeking a turnkey home or a property with resale value driven by modern finishes.
Five Possible FAQs
1. Why is the assessed value so low compared to the neighbourhood and city averages?
The home is old (1905) and its assessed value appears to reflect the condition of the structure rather than the land. The lot is above-average size for Wolseley, but the building itself likely has less market value than newer or more updated homes nearby.
2. How does the living area compare to other homes in Wolseley?
It’s around average for the neighbourhood—1,706 sqft versus a neighbourhood average of 1,622 sqft. Citywide, it’s well above average (top 21%), but on its own street, it’s below the street average of 2,125 sqft.
3. Is the lot size unusual for Wolseley?
Yes, in a good way. The lot is 3,609 sqft, which is above the Wolseley average of 3,434 sqft (top 29%). But it’s small by citywide standards (top 79%), because Winnipeg has many larger suburban lots.
4. What does a “Top 91%” rank on Honeyman Avenue mean for the living area?
It means the home ranks 21st out of 23 comparable homes on that street—so it’s one of the smallest living spaces on Honeyman. The street average is 2,125 sqft, which is significantly larger than this property’s 1,706 sqft.
5. Does the age of the home (1905) affect its rank compared to other Winnipeg homes?
Yes. The home is older than 98% of comparable homes citywide—so it’s one of the oldest homes in Winnipeg in its category. In Wolseley, it’s also below average (top 96%), meaning most nearby homes are newer. This can affect insurance, maintenance expectations, and renovation costs.