Key Characteristics & Appeal
This is a 1902-built home on Spence Street in Winnipeg’s West Broadway area, with 1,704 square feet of living space on a 4,476-square-foot lot. Its assessed value is $251,000.
What stands out is how the property sits relative to different scales of comparison. The living space is notably above the citywide average—ranking in the top 21% across Winnipeg—but is actually slightly below the average for its own street and neighbourhood, where homes tend to be larger. The assessed value is below the city median, which keeps property taxes relatively modest. The lot is larger than typical for both the street and the neighbourhood, though smaller than the citywide average for single-family homes. The building is older, in line with the character of the surrounding area.
The appeal here is pragmatic rather than flashy. You get a spacious interior by city standards, in an older neighbourhood with established character, without the premium valuation you might expect for that amount of space. This property could suit buyers who want a larger-than-average home in a central, older neighbourhood, and who are comfortable with an older building. It may also appeal to someone looking for a property with below-median tax exposure relative to the city, or someone interested in the West Broadway area specifically—a neighbourhood where a 1,704 sqft home is on the smaller end, so the floor plan might feel relatively manageable in that context.
Five Possible FAQs
1. How does the living space compare to similar homes nearby?
On Spence Street, this home’s 1,704 sqft is close to the street average of 1,925 sqft. In the West Broadway area, it’s also near the community average of 2,017 sqft. But compared to the entire city of Winnipeg, where the average is roughly 1,342 sqft, this is a larger home.
2. Why is the assessed value lower than the city average?
The assessed value of $251,000 is below the citywide average of $390,000. This likely reflects the older age of the home, its location in a neighbourhood with generally lower valuations, and possibly the condition or features of the property. The assessment is close to the average for Spence Street itself.
3. Is the lot size considered large or small?
The lot is 4,476 sqft. That’s above average for both Spence Street (3,987 sqft) and West Broadway (3,954 sqft), but below the citywide average of 6,570 sqft. So it’s generous for the immediate area, but not oversized by Winnipeg standards.
4. The home was built in 1902. What should I be aware of with a house that old?
It’s older than the street and neighbourhood averages, and significantly older than the citywide average (mostly homes from the 1960s). An older home may have charm and solid construction, but you should plan for maintenance related to aging systems, foundations, insulation, and possibly lead paint or outdated wiring. A thorough inspection is strongly recommended.
5. How is the property ranked compared to others?
The house ranks in the top 21% citywide for living space, meaning it’s larger than most homes in Winnipeg. For assessed value, it’s in the bottom 17% citywide—so it’s on the lower end in terms of valuation. The lot is in the top third on the street and in the neighbourhood, and the build year places it among the older homes both locally and citywide.