263 Gilmore Avenue

Property Overview: 263 Gilmore Avenue, Winnipeg

Key Characteristics & Appeal

This 1960-built home in River East presents a distinct value proposition centered on its generous 8,558 sqft lot, which is significantly larger than most comparable properties on its street, in the neighborhood, and across Winnipeg. The living space (1,045 sqft) and assessed value ($323k) are generally in line with or slightly below area averages, suggesting the home itself may be modest or in need of updates. This creates a clear opportunity: the appeal lies in the land itself. It’s a property where the value is weighted more toward outdoor space and future potential than in immediate move-in finish or square footage.

It would best suit a practical buyer who sees potential beyond the current structure. This could be a family desiring a large backyard, a homeowner planning a future expansion or rebuild, or an investor recognizing the underlying land value. It’s less suited for someone seeking a turn-key home with modern amenities and maximum interior space relative to the price.

Frequently Asked Questions

1. Is the house outdated given its 1960 build year?
Very likely. The data shows it is older than 89% of homes on its street and 94% in River East, so buyers should budget for updates to systems, windows, and interior finishes common to its era.

2. Why is the assessed value below neighborhood averages?
The below-average assessment for River East is likely a combination of the older home age and the modest living area. Assessed values primarily reflect the current state and size of the property, not its future potential.

3. What are the advantages of such a large lot?
Beyond a spacious yard, the lot size offers flexibility. It provides room for additions, landscaping projects, recreational space, or future development, subject to city zoning bylaws. This is a long-term asset that smaller lots in the area cannot offer.

4. How reliable is the sold price data shown?
The provided sold price range is based on public data, not the MLS. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email, as noted in the data disclaimer.

5. How does this property compare to its direct neighbors?
The comparable listings suggest homes on Gilmore Avenue vary widely in size, age, and value. This property stands out for its lot size but fits the street’s mix of older, moderately sized homes, indicating a stable, established street without extreme outliers.