54 Lydia Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1903-built home with 1,759 sq. ft. of living space on a 5,135 sq. ft. lot in Winnipeg’s West Alexander neighbourhood. What stands out most is the lot size: it’s one of the largest on the street (ranked 2nd out of 7) and well above the neighbourhood average. The living area is also notably generous, ranking in the top 14% on the street and top 18% citywide for comparable homes.
The assessed value of $239,000 is a point of interest. It’s well above both the street average ($166,400) and the neighbourhood average ($187,300), but significantly below the citywide average for comparable homes ($390,100). This suggests the property is priced for its immediate context rather than broader market trends.
Age is a factor here. Built in 1903, it’s older than most homes citywide (ranking in the bottom 1% by year built) and older than the neighbourhood average of 1921. Buyers should expect character details, but also potential maintenance demands typical of early 20th-century construction.
This property would suit someone who values a large lot and generous indoor space in an established inner-city neighbourhood. It’s less ideal for buyers seeking a move-in-ready home with modern systems or those who prioritize being on par with citywide property values. A buyer comfortable with older homes and looking for room to spread out—indoors and outdoors—without paying a premium for a newer build would find this worth a closer look.
Frequently Asked Questions
1. How does this property compare to others on Lydia Street?
It has the largest living area on the street (1,759 sq. ft. vs. the street average of 1,479 sq. ft.) and the second-largest lot. It also leads the street in assessed value. In terms of age, it’s roughly average for the street, where most homes were built around 1904.
2. Is the assessed value a good deal compared to citywide averages?
The assessed value of $239,000 is below the citywide average of $390,100 for comparable homes, placing it in the bottom 15% citywide. However, it’s well above street and neighbourhood averages. Whether this is a good deal depends on whether you value the local context or broader market comparisons more.
3. What should I expect from a home built in 1903?
Older framing, plaster walls, and original details like trim or windows are likely. Systems (electrical, plumbing, insulation) may need updating or have been updated at different times. Foundation and roof age should be confirmed. This is not a “turn-key” property for most buyers.
4. How large is the lot relative to typical Winnipeg homes?
At 5,135 sq. ft., it’s about 22% smaller than the citywide average (6,570 sq. ft.) but significantly larger than the West Alexander average of 3,591 sq. ft. It ranks in the top 13% for lot size within the neighbourhood.
5. Is West Alexander a desirable neighbourhood?
West Alexander is an older, central neighbourhood with a mix of residential and commercial zoning. It’s close to downtown and major routes, but tends to have older housing stock. The property is on a quieter street (only 7 comparable homes), and its lot and living space are standout features within this pocket. Desirability depends on your tolerance for an older, denser urban environment versus newer suburban layouts.