255 Lulu Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,240-square-foot home built in 1909, set on a 3,579-square-foot lot in the West Alexander neighbourhood of Winnipeg. The standout feature is the living area: it’s the largest on Lulu Street (top 17%), and comfortably above the street average of 973 square feet. That extra interior space gives it a practical edge over nearby homes, many of which are noticeably smaller. The assessed value sits at $180,000—around average for the street and neighbourhood, but well below the citywide median of $390,100. The land area is also generous by local standards (top 17% on the street), though smaller than typical citywide lots.
The appeal here is subtle. It’s not a flashy or renovated property, but it offers solid bones—a bigger-than-average floor plan on a good-sized lot, at a price that reflects the neighbourhood’s more modest valuation rather than the city’s climb. That makes it a practical choice for buyers who value interior space over curb appeal or a newer build. It would suit someone looking for a fixer-upper with room to work, an investor targeting rental potential in an established area, or a first-time buyer who doesn’t mind an older home (built 1909) and wants more square footage without paying a premium for a trendy location. The land size also leaves room for future expansion or a garage, which isn’t common on this street.
Frequently Asked Questions
1. How do the rankings work, and what do they actually tell me?
The rankings compare this property to similar homes within three scopes: the same street, the neighbourhood (West Alexander), and the city. A higher rank (e.g., top 17%) means the home outperforms that percentage of comparable properties in that category. For land area and living area, bigger is better; for year built, newer is better; for assessed value, higher is better. The “Avg” shown is a rough median for comparable homes in that scope—not an exact average, but a useful benchmark. The bar fill reflects how much of your peer group you outperform, and the colour indicates a tier (red/blue/amber/gray), though the specific criteria for each tier aren’t listed here.
2. The assessed value is $180,000, but citywide average is $390,100. Is this area undervalued?
Not necessarily. West Alexander has a mix of older homes, and the citywide average is pulled up by pricier neighbourhoods. The assessed value here is around average for the street and neighbourhood, which suggests the pricing is consistent with local conditions. The big gap to the citywide average means this is a more affordable pocket of Winnipeg—useful for a buyer who wants to avoid inflated prices, but it doesn’t signal a hidden bargain unless the home’s condition or lot offers unusual potential.
3. The house was built in 1909. What should I be aware of with a home this old?
Older homes often come with character, but also with maintenance realities. Expect possible issues like outdated electrical, plumbing, foundation settling, lead paint (depending on renovation history), and insulation that’s below modern standards. The year-built ranking (top 95% oldest citywide) confirms this is an older property even by Winnipeg standards. A thorough inspection, especially of the roof, basement, and mechanicals, is essential. On the upside, older homes in this area sometimes have sturdy framing and larger rooms than mid-century builds.
4. The land area is 3,579 sqft—above average for the street but below average citywide. What does that mean in practice?
It means the lot is generous compared to neighboring properties, which are often on smaller parcels (street average is 2,501 sqft). That gives you more outdoor space, potential for a garden, off-street parking, or even a small workshop or addition—subject to zoning. However, it’s still modest by citywide standards (average lot 6,570 sqft), so don’t expect sprawling acreage. For the street and neighbourhood, it’s a definite advantage.
5. How does this compare to other homes in West Alexander?
Within the neighbourhood, this home ranks around average across most metrics—living area, assessed value, and year built all fall near the middle of 772 comparable properties. The land area sits slightly above average (top 37%). So it’s not an outlier, but the living area and lot size are both stronger than many similar homes on the street. If you’re looking in West Alexander, this property offers a bit more interior room and yard than typical, without a major price premium.