Property Overview
This 916 sqft home, built in 1955 on a 4,999 sqft lot at 530 Yale Avenue W, presents a practical opportunity in Victoria West. Its assessed value of $296k sits below the citywide average, offering a more accessible entry point into the Winnipeg market. The home's characteristics paint a picture of a solid, mid-century property that is comfortably average within its immediate surroundings but represents a value proposition in the broader city context.
Key Characteristics & Appeal
The primary appeal of this property is its balance and position within a well-established neighborhood. While its living space is modest compared to the city average, it is squarely in line with the typical home in Victoria West. The lot size is a notable asset, being larger than most in the neighborhood, which offers valuable outdoor space and potential. The 1955 build date means it is a newer construction compared to many heritage homes on its street, potentially suggesting fewer concerns with extremely aged infrastructure.
This home would suit first-time buyers or practical downsizers seeking a manageable footprint without sacrificing yard space. It’s for those who prioritize location and lot size over sheer interior square footage, and who see value in a home priced below the city average for its type. It may also appeal to value-oriented investors or buyers comfortable with a property that offers a solid foundation for gradual updates.
Frequently Asked Questions
1. How does this home’s value compare to others in the area?
The assessed value of $296k is around average for Yale Avenue W and Victoria West. However, it is notably below the average assessed value for similar homes across Winnipeg, which sits around $390k. This suggests the property is priced competitively within its immediate neighborhood while representing a relative value city-wide.
2. Is the living space considered small?
At 916 sqft, the living area is typical for the Victoria West neighborhood, where the average is 976 sqft. It is, however, below the Winnipeg city average. This indicates a cozy, efficient layout that is common for the area but may require thoughtful organization.
3. What does the 1955 build year imply?
Built in 1955, this home is newer than many on its street (average year built 1939). This can be an advantage, potentially meaning updated building materials and systems compared to much older heritage properties, while still offering classic mid-century character.
4. How does the lot size compare?
The 4,999 sqft lot is a key feature. It is larger than the neighborhood average, offering more private outdoor space than many comparable properties in Victoria West. This is a significant perk for gardening, recreation, or future expansion.
5. Who would this property best suit?
This home is ideal for buyers seeking an established neighborhood with a manageable, single-level layout. It suits those who value outdoor space (as evidenced by the above-average lot) over a large interior and are looking for a competitively priced entry into the market below city-wide averages.