Property Overview: 503 Rathgar Avenue
Section 1: Key Characteristics & Appeal
This home at 503 Rathgar Avenue is a classic, early-1900s residence in Winnipeg's Lord Roberts neighbourhood. Its key appeal lies in its established location and a value proposition centered on land and location rather than square footage. With 936 sqft of living space, the house itself is compact, ranking below the citywide average for size. However, its assessed value of $290k is notably above average for its own street, suggesting the value is anchored in the desirable lot and neighbourhood rather than the building's current footprint.
The property would suit a specific buyer: someone seeking an entry point into a mature, central neighbourhood who is comfortable with a home that may require updates (given its 1909 build date) and has a vision for its potential. It's a practical choice for a first-time buyer, an investor, or a downsizer who values community and location over expansive interior space. A thoughtful perspective is that this home represents the "bones" of a neighbourhood—it offers the chance to own a character property on a decent-sized lot (2,206 sqft) in a well-regarded area, where future value may be driven more by the land and the owner's improvements than by the original structure.
Section 2: Frequently Asked Questions
1. Is the house small compared to others?
Yes. At 936 sqft, the living area is below the Winnipeg average. However, it is more typical for homes on Rathgar Avenue itself, ranking near the middle of the pack for its immediate street.
2. Why is the assessed value relatively high for a smaller, older home?
The assessment reflects more than just the house. It accounts for the desirable Lord Roberts location, the lot size, and the overall market value of properties in the area. The data shows this home's assessment is in the top 30% on its own street, indicating the lot and location are significant value drivers.
3. What should I know about the age of the home?
Built in 1909, the home is older than most in the city. This typically means potential for character but also a greater likelihood of needing updates to major systems like plumbing, electrical, or insulation. It's wise to budget for maintenance and modernizations.
4. How does the lot size compare?
The 2,206 sqft lot is fairly average for Rathgar Avenue but below average for both the broader Lord Roberts area and the city. It provides decent outdoor space for a central neighbourhood but is not an exceptionally large parcel.
5. What were recent nearby sales prices?
Based on public data, a very similar home at 485 Walker Avenue sold for between $200k and $250k in 2020. For a more precise and current comparison, you can request the exact sold price history for this address directly via the provided service.