187 Balmoral Street – Property Summary
Key Characteristics & Buyer Fit
This is a spacious, older home in Winnipeg’s West Broadway area with standout living space and a very large lot. The property ranks in the top 1% city-wide for living area at 3,234 square feet, far above the city average of 1,342 square feet. The land is also generous at 4,873 square feet—well above the street and neighbourhood averages—though closer to the middle of the pack city-wide. The house was built in 1902, which is typical for the street but older than most homes in Winnipeg. Its assessed value sits at $357,000, which is strong for the immediate area (top 15% on the street, top 19% in the neighbourhood) but essentially average city-wide.
The appeal here is clear: you get a rare amount of interior space for the price, in a neighbourhood where similar-sized homes are uncommon. The land is also a significant asset—both for outdoor use and future flexibility. The trade-off is an older home that likely needs updates or careful maintenance, and a location that doesn't carry the premium assessed values of newer or more central parts of the city. This would suit a buyer who values square footage and outdoor space over a move-in-ready, low-maintenance property. It could work well for a family needing room to spread out, someone looking to take on a renovation project with good bones, or a buyer who wants a large lot in an established neighbourhood without paying a premium for a newer home.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The assessed value of $357,000 is above average for both the street and neighbourhood, where medians are around $264,000 and $295,000 respectively. City-wide, it sits near the median for comparable homes. That means you're paying a bit of a premium for the location and size, but not dramatically so given how much more space you get.
2. Is the living area unusually large for this area?
Yes—very much so. This property ranks in the top 1% of all Winnipeg homes for living area, and it's well above the street and neighbourhood averages, which are around 2,000 square feet. You'd be hard-pressed to find a comparable amount of interior space at this price point in the same area.
3. What does the lot size mean for outdoor use or future development?
At 4,873 square feet, the lot is larger than most on the street and in the neighbourhood (both averaging under 4,000 square feet). It's slightly below the city-wide average, but in an older, denser part of town, that's still a meaningful amount of land—good for gardens, play areas, or possible additions if zoning allows.
4. How old is the house, and what should I expect?
Built in 1902, this is a very old home even by local standards. On the street and in the neighbourhood, most homes date from around 1906 to 1910, so it's slightly older but consistent with the area's character. City-wide, the average home was built in 1966, so this is well past that. Expect period details, but also the need for ongoing maintenance to systems, insulation, and foundation work.
5. Is this a good investment property or more suited to an owner-occupant?
It could work as either, but the main case is for someone who will use the space. The assessed value is near the city median, so there isn't obvious undervaluation for flipping. The large living area and lot are hard to replicate, which makes it attractive to an owner looking for room to live or renovate. For a rental, the older construction and high square footage could mean higher utility and maintenance costs.