Property Overview: 203 Horace Street, Norwood East, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, land, and value within the established Norwood East neighborhood. Its key appeal lies in its generous 6,121 sqft lot, which ranks in the top 15% on its street and top 9% in the local area, offering significant outdoor potential rare for in-city living. The 1,420 sqft living area is also comfortably above average for both the immediate street and neighborhood.
Built in 1911, the property is one of the older homes in the wider city, suggesting classic character but also highlighting the importance of a thorough inspection for maintenance and updates. Its current assessed value of $290k is positioned below the Winnipeg city average, which may indicate a value opportunity for a buyer willing to invest in a century-old home. The last recorded sale was between $300k-$350k in late 2020.
This property would best suit a practical buyer or investor who prioritizes land size and interior space over modern finishes. It’s a candidate for those comfortable with the upkeep of an older home, potentially looking for a long-term property where equity can be built through gradual updates. The below-average city valuation relative to its lot and local living space could make it an efficient entry point into the market.
Frequently Asked Questions
1. What does the "below average" year built ranking mean for me?
It confirms the home is older than most in Winnipeg. This isn't inherently negative, but it underscores the need for a specialized inspection focusing on foundational integrity, wiring, plumbing, and insulation that are common considerations for houses of this era.
2. The assessed value is below the city average. Is that good or bad?
It can be both. It suggests the property may be undervalued relative to its lot size, offering potential equity growth. However, it may also reflect the market's adjustment for the age and condition of the home, or recent sales trends in the area.
3. How significant is the lot size advantage?
Very. A lot in the top 9% for the area is a standout feature. It provides ample room for gardening, expansion, adding a garage, or simply enjoying more private outdoor space than most neighboring properties—a fixed attribute that cannot be easily replicated.
4. Why is there only a sold price range and not an exact figure?
The provided data is sourced from publicly available records, not the MLS. To access the precise historical sale price and details, you must request a manual lookup from the site, which they provide via email.
5. How should I interpret the different rankings for street, area, and city?
Focus on the street and area (Norwood East) rankings first, as they are your direct context. They show the home is above average in living and land space locally. The city-wide comparisons help gauge how the property fits into the broader Winnipeg market, where its value appears more competitive.