244 Balmoral Street

Property Overview: 244 Balmoral Street

Key Characteristics & Buyer Profile

This is a 2,646-square-foot home built in 1902, sitting on a 3,583-square-foot lot in Winnipeg’s West Broadway neighbourhood. The standout feature is the living space: it ranks in the top 2% city-wide for size, with about 1,300 more square feet than the average Winnipeg home. On its own street and in the immediate area, it’s still well above average—top 19% and top 11% respectively. That extra space is the primary draw here.

The assessed value is $265,000, which is roughly average for Balmoral Street and slightly below the neighbourhood average of $295,000. City-wide, the assessment is well below the $390,000 average, which reflects both the older housing stock in this part of Winnipeg and the property’s modest land size (3,583 sqft—at or slightly below typical lots for the area, and significantly smaller than the city-wide average of 6,570 sqft). The home was built in 1902, making it older than most homes on the street and in the neighbourhood, and placing it among the oldest 1% of homes city-wide.

Where the appeal lies: The selling point is square footage per dollar. Buyers get a large home with historic bones at a price point well under newer or more centrally located properties of similar size. The trade-off is an older building, a smaller lot than many suburban homes, and a neighbourhood where assessed values lag behind the city average. This isn’t a move-in-ready modern renovation—it’s a property with potential for someone who values space and location over new construction.

What type of buyer it would suit: Someone who wants generous living space in an established central neighbourhood, and is comfortable with the realities of an older home (maintenance, likely outdated systems). It could work for a family needing room to grow, an investor looking for a rental with strong square-footage appeal, or a buyer who prioritizes character and proximity to downtown over a cookie-cutter layout. It would be a less natural fit for someone seeking a low-maintenance newer build or a large yard.

Five Possible FAQs

1. How does the assessed value compare to similar homes nearby, and what does that tell me?
The assessed value of $265,000 is typical for this block of Balmoral Street, but about 10% below the West Broadway neighbourhood average. City-wide, it’s well below the average for comparable homes. This suggests the property is priced in line with local market conditions—it’s not undervalued relative to its immediate surroundings, but the neighbourhood as a whole carries lower assessments than many Winnipeg areas. The gap likely reflects the older housing stock and smaller lots here, not a hidden bargain.

2. The home is from 1902. What should I expect in terms of renovation or maintenance?
A 1902 build means you’re buying into a heritage-era structure. Mechanical systems (plumbing, electrical, heating) may be original or updated at various points—so expect unknowns. Older homes often require more frequent upkeep, from foundation issues to window and roof replacement. It’s wise to budget for a thorough inspection before purchase. That said, many homes of this vintage in West Broadway have been updated; check what’s been done recently.

3. The land area is below both the neighbourhood and city average. Is that a concern?
It depends on your needs. The 3,583 sqft lot is typical for the street itself but smaller than many Winnipeg properties. If you want a large garden, room for additions, or a detached garage, you may find it tight. For someone who values indoor space and a central location over outdoor space, it’s likely fine. Keep in mind that development potential (like subdividing) is limited by the lot size.

4. Is this property in a desirable area for resale?
West Broadway is an established central neighbourhood with a mix of older homes and some new infill. Resale appeal here tends to hinge on proximity to downtown, character, and the size of the living area. Given that this home has above-average square footage for the area, it may hold value well for buyers who want that. However, the neighbourhood isn’t currently among Winnipeg’s highest-appreciation areas, so don’t expect rapid equity growth. It’s more of a steady, location-driven hold.

5. How does the living area rank compare to the land area rank? That seems lopsided.
It is. The home is in the top 2% city-wide for living space, but the lot is in the bottom 20% for size city-wide. That means this is a house with a big footprint relative to its land—likely a narrow, deep design typical of older urban homes. The takeaway is that while you get generous interior room, there’s not much buffer between neighbours or space for expansion. It’s a trade-off that makes sense for people who prioritize indoor square footage.