42 Hindley Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 628 sqft home, built in 1921, on a 3,015 sqft lot. Its assessed value is $146,000.

The property sits well below average on every measurable metric compared to its street, neighbourhood (Worthington), and citywide (Winnipeg) benchmarks. Living area ranks in the bottom 5% on its street, the bottom 3% in the neighbourhood, and the bottom 1% citywide. Assessed value follows a similar pattern. The lot is smaller than most in the area, though not as dramatically undersized relative to citywide averages—it’s still in the bottom 12% citywide.

The appeal here is not in size or value appreciation potential based on current comparables. Instead, this property likely appeals to buyers focused on entry-level pricing, tear-down or renovation potential on a small lot in an older neighbourhood, or those looking for a lower-cost foothold in a specific area where land values may shift over time. It may also suit an investor seeking a low-carry property in an established street context, provided they are comfortable with below-median sizing and an older structure requiring work.

Best suited for: budget-constrained buyers, investors targeting small-scale redevelopment, or those prioritizing location over square footage—provided they have realistic expectations about the property’s ranking relative to its surroundings.

Frequently Asked Questions

1. Why is the assessed value so much lower than the street and neighbourhood averages?
The assessed value reflects both the smaller living area (628 sqft vs. roughly 1,000+ sqft averages) and the older construction (1921) relative to neighbouring homes. It is not an indicator of disrepair, but of size, age, and comparable sales in the area.

2. Is the small lot a disadvantage or could it be an advantage?
It depends on your plans. The lot is smaller than most on the street (3,015 sqft vs. 9,380 sqft average), but it is closer to typical citywide lot sizes. For renovation or redevelopment, this means less outdoor space but potentially lower purchase cost and less upkeep. It could also limit certain additions without a variance.

3. How does the year built (1921) affect maintenance or insurance?
Older homes often have solid framing but may require updates to electrical, plumbing, insulation, and foundation work. Insurance premiums can be higher depending on the condition of the roof, wiring, and heating system. A pre-purchase inspection is strongly recommended to assess actual condition beyond the year of construction.

4. Could this property appreciate differently than larger homes in the area?
Possibly. Smaller, older homes in older neighbourhoods sometimes appreciate more slowly than the street average, but they can also benefit if land values rise or if the area undergoes gentrification or re-zoning. The property’s low entry point may offer higher percentage gains if sold after improvements, though absolute dollar gains may remain modest.

5. What does the ranking system actually mean for a buyer?
The rankings compare this property against similar homes in three geographic scopes. Being in the bottom percentile doesn’t mean the property is unlivable or undesirable—it means it is smaller, older, and lower-valued than most others in its immediate area. For a buyer, this often translates into a lower purchase price relative to neighbours, but also less comparability if you later sell. It’s a trade-off between affordability and resale positioning.