180 Balmoral Street – Property Summary

Key Characteristics & Buyer Profile

This 1904 home on Balmoral Street offers 2,656 square feet of living space, placing it in the top 2% citywide for size—well above Winnipeg’s average of 1,342 square feet. Within the West Broadway neighbourhood, it ranks in the top 10%, and on its own street, it sits in the top 16%. The assessed value is $298,000, which is around average for the street and neighbourhood, though below the citywide average of $390,100. The lot is 3,609 square feet, slightly smaller than both the street and neighbourhood averages.

The property’s main appeal is its generous interior space at a relatively moderate assessed value. Buyers get a substantial home—uncommon for the area—without the premium price tag that might come with a newer build or a larger lot. The age (1904) means it’s older than most homes citywide, but that’s consistent with the character of the street and neighbourhood, where many homes date from the early 1900s.

This property would suit buyers who prioritize square footage over a newer build or a bigger yard. It’s a strong fit for someone looking for a larger home in an established central neighbourhood, perhaps a family or investor who values space and is comfortable with an older home’s maintenance needs. It may also appeal to buyers who see potential in a property with below-city-average assessed value but above-average living area—a combination that can offer good value per square foot.

Five Possible FAQs

1. How does the assessed value compare to similar homes in the area?
The assessed value of $298,000 is close to the neighbourhood average of $295,400 and slightly above the street average of $263,600. Citywide, it’s below the $390,100 average, which reflects the older age and smaller lot size relative to newer suburban homes.

2. Is a 1904 home likely to have significant maintenance issues?
Older homes often require more upkeep, especially with systems like plumbing, electrical, and foundation. However, the fact that this property ranks in the top 25% on its street for year built suggests it may be in better condition than some nearby older homes. A thorough inspection is recommended.

3. How does the land area compare to other properties in West Broadway?
The lot is 3,609 square feet, which is slightly below both the street average (3,934 sqft) and the neighbourhood average (3,954 sqft). Citywide, it’s in the bottom 21%, meaning most homes in Winnipeg sit on larger lots.

4. What’s the neighbourhood like in terms of character and amenities?
West Broadway is an older, central Winnipeg neighbourhood with a mix of heritage homes, rentals, and commercial strips. It’s walkable and close to downtown, but like many older urban areas, it can have a mix of vibrancy and challenges. Buyers should spend time in the area to see if it fits their lifestyle.

5. Could this property be a good investment?
The combination of a large living area (top 2% citywide) with an assessed value around the neighbourhood average suggests potential for value-per-square-foot appreciation, especially if the property is well-maintained. That said, older homes in central areas can have slower resale value growth than newer suburban builds, so it depends on long-term market trends and renovation plans.