106 Balmoral Street – Property Summary

Key Characteristics & Buyer Profile

This 1910 home offers 2,421 square feet of living space on a 5,959-square-foot lot. The living area ranks in the top 4% city-wide in Winnipeg, making it significantly larger than the average comparable home. The land area is similarly generous, ranking in the top 3% on its street and top 6% in the West Broadway neighbourhood. The assessed value of $317,000 sits above the street and neighbourhood averages but below the city-wide median, suggesting the property offers considerable space for its price relative to the broader market.

The home’s appeal lies in the combination of a large, mature lot and substantial interior square footage—features that are increasingly uncommon in urban settings. The year built places it among the older homes on the street and in the area, which may appeal to buyers who value character, original detailing, or the potential for restoration. For those seeking a project, the discrepancy between the city-wide assessed value ranking (top 66%) and the living area ranking (top 4%) could signal untapped equity in a renovation scenario.

This property would suit buyers looking for space and land in an established neighbourhood, likely those who are comfortable with older homes and the maintenance they require. It may also appeal to investors or flippers who recognize the value spread between size and assessed worth. It is less suited to buyers seeking a move-in-ready modern home or a low-maintenance property, given the age and the need for potential updates.

Five Possible FAQs

1. How does the assessed value compare to similar homes in the area?
On Balmoral Street, the assessed value of $317,000 is about 20% above the street average of $263,600. Within the West Broadway neighbourhood, it sits slightly above the average of $295,400. City-wide, however, the home’s value is below the median of $390,100, which reflects its older age and possibly less updated condition relative to newer homes across the city.

2. Is the large lot a rare find in this neighbourhood?
Yes. The lot ranks in the top 6% in West Broadway and is among the top 3% on the street itself. The neighbourhood average lot size is roughly 3,954 square feet, so this property’s 5,959-square-foot lot is about 50% larger than most nearby homes. That kind of yard space is unusual for an urban infill area.

3. What does the year built tell me about potential issues?
Built in 1910, the home is older than 94% of comparable homes city-wide. That means it likely has original materials and systems that may need updating—things like knob-and-tube wiring, cast-iron plumbing, lead paint, or outdated insulation. The upside is that older homes in this area are often built with higher-quality lumber and craftsmanship than newer construction. A thorough home inspection is advisable.

4. How does the living area compare to other homes in the city?
The home’s 2,421 square feet puts it in the top 4% of comparable city-wide homes. The average city-wide living area is 1,342 square feet, so this property is nearly double that. Even within West Broadway, where the average is 2,017 square feet, this home offers roughly 20% more space.

5. Is this property a good candidate for renovation or redevelopment?
Given the large lot and relatively low assessed value compared to its size, there may be room to add value through renovation. However, the home is listed in the older cohort of properties, so any significant work would need to account for heritage or zoning restrictions in the area. The land itself is a strong asset—depending on local zoning, a redevelopment or addition could make financial sense, but buyers should verify land-use rules before planning major changes.