141 Spence Street — Property Summary
Key Characteristics & Buyer Fit
This is a substantial, older home in Winnipeg’s West Broadway area, built in 1902. Its standout feature is its size: with 2,680 square feet of living space, it ranks in the top 2% citywide and top 7% on its street. The land is also notably generous—5,940 square feet, placing it in the top 3% on Spence Street and top 6% in the neighbourhood. Most comparable homes in the area sit on roughly 3,950 to 4,000 square foot lots, so this property offers noticeably more outdoor space.
The assessed value is $370,000—above average for both the street and the neighbourhood, but close to the citywide median. That means you’re paying a premium for the extra square footage and land, but not an extreme one relative to the wider market. The building itself is old, even by local standards: it’s among the oldest 1% of homes in Winnipeg. That will appeal to buyers who value character, original details, and a sense of history, but it also signals that maintenance and upgrades are likely ongoing considerations.
This property would suit buyers who want space—both indoor and outdoor—in a central, established neighbourhood, and who are comfortable with an older home that may need attention. It’s less suited to someone looking for a move-in-ready, low-maintenance property or a newer build. For renovators, history enthusiasts, or families wanting room to spread out without leaving the inner city, it’s a strong candidate.
Five Possible FAQs
1. How does the property compare to other homes in West Broadway?
It’s significantly larger than most—both in living area and lot size. The living space is in the top 10% of the neighbourhood, and the land is in the top 6%. The assessed value is above the local average, but not dramatically so, and the home is among the older ones in the area.
2. What should I be aware of with a home built in 1902?
Homes of this age often have original features like high ceilings, hardwood, and trim, but they can also come with outdated wiring, plumbing, insulation, and foundation issues. It’s wise to budget for potential updates and to have a thorough inspection before purchasing.
3. Is the assessed value of $370,000 reflective of the market price?
Assessed value is used for property tax purposes and may not match current market value. In this case, the assessment is above the neighbourhood average but close to the city median. A real estate agent can help determine what similar homes have recently sold for in the area.
4. What’s the benefit of a larger-than-average lot in this neighbourhood?
A 5,940 sqft lot offers room for gardens, outdoor living space, or even a future addition, which is less common in West Broadway. The extra land adds both privacy and potential value, but also means more yard maintenance.
5. How does the property rank citywide?
It ranks in the top 2% for living area and top 34% for land size across all of Winnipeg. For assessed value, it sits near the middle (top 47%), and it’s among the oldest homes in the city (top 1% for age). These rankings highlight the trade-off between space and vintage.