285 Academy Road – Property Summary
Key Characteristics & Buyer Profile
This 1922 home on Academy Road stands out citywide for its size and assessed value, but sits in a different context within its own high-end neighbourhood. The living area is 2,743 square feet—ranking in the top 11% on its street and top 2% across Winnipeg. The land is generous too, at 11,850 square feet, putting it in the top 8% locally and top 4% citywide. The assessed value of $708,000 reflects elite positioning on the street (top 5%) and citywide (top 4%), yet sits near average within the broader Wellington Crescent area, where median values are higher. The home is older than most nearby—built in 1922, placing it in the bottom quintile for age on Academy Road itself.
The appeal lies in the combination of scale and lot size that is rare at the city level, without being the priciest property in the neighbourhood. This suggests a home with character and space, not necessarily the most recently renovated or most expensive on the block. It would suit a buyer who values square footage and land over a turnkey finish, and who is comfortable with the maintenance or updating that an older home may require. Someone looking for a large family home within a top-tier Winnipeg address—but without paying the absolute peak of the local market—would find this property compelling. It also works for buyers wanting a lot that could potentially be subdivided or developed, given the land size and street context.
Frequently Asked Questions
1. How does the assessed value of $708k compare to the actual market price?
The assessed value is a benchmark used by the city for property tax calculation, not a direct market estimate. On Academy Road, this home ranks in the top 5% by assessed value, meaning it is among the higher-valued properties on the street. However, in the wider Wellington Crescent area, it sits near average, so the actual sale price could vary depending on condition, renovations, and market demand—especially given the home’s age.
2. Is the age of the home (1922) a negative factor?
That depends on the buyer’s priorities. The home is older than most comparable properties on Academy Road and citywide, which may mean original character, solid construction, and established landscaping. It also likely means older systems (plumbing, electrical, insulation) that may need updating. The ranking (bottom 20% on the street) simply reflects that most nearby homes were built later—not that this one is in poor condition.
3. What does “rank in top 2% citywide for living area” actually mean in practical terms?
It means this home is significantly larger than the vast majority of Winnipeg homes, which average around 1,342 square feet. At 2,743 square feet, it offers more space than 98% of properties citywide. That translates to spacious rooms, potential for multi-generational living, or room for home offices and hobby spaces—features that are genuinely uncommon in the broader market.
4. How does the land size (11,850 sqft) affect usability or future options?
The lot is well above average for the street (top 8%) and the neighbourhood (top 25%), and among the largest 4% citywide. This provides ample outdoor space for gardens, play areas, or expansion. In a desirable area like Academy Road, larger lots can also hold long-term potential for severance or redevelopment, though that depends on zoning and city regulations. For most buyers, it simply means more privacy and outdoor living space than typical.
5. Why is the home “average” in the neighbourhood assessed-value ranking but “elite” citywide?
The Wellington Crescent area includes some of Winnipeg’s most expensive homes, with an average assessed value around $805,600—higher than this property’s $708k. So within that elite pocket, the home is mid-range. But citywide, where the average assessed value is $390,100, this home is in the top 4%. In short: it’s a very high-value property by Winnipeg standards, but not an outlier on its own street.