250 Balmoral Street – Property Summary
Key Characteristics & Buyer Profile
This property stands out most for its living space. At 2,284 square feet, it ranks in the top 5% city-wide in Winnipeg, well above the全市 average of 1,342 sq ft. On its own street (Balmoral Street) it sits near the middle of the pack, but within the West Broadway社区 it's comfortably above average.
The land size (4,491 sq ft) is also a strong point locally—ranking in the top 30% for both the street and neighborhood—though it's more average by全市 standards. The assessed value ($224,000) is below the local and city averages, which may reflect the home's age or condition rather than its size. Speaking of age: the house was built in 1900, making it one of the older homes on the street (78th percentile) and certainly older than most homes across the city.
Where the appeal lies: You're getting a very large home on a generous lot in a central neighborhood, at a relatively modest assessed value. That combination is unusual. The home likely appeals to someone who values space and location over a finish-ready interior or modern amenities. It's not a turnkey property for a buyer seeking something new, but it offers significant square footage and land that may be hard to find at this price point elsewhere.
Best suited for: Buyers who are comfortable with an older home and willing to invest in updates or renovations. Also well-suited for someone who prioritizes interior space and a good-sized lot in an established central area, and who sees long-term potential rather than immediate perfection.
Frequently Asked Questions
1. How does the assessed value compare to similar homes in the area?
It's below both the street average ($264,000) and the neighborhood average ($295,000). For a home this large, that could mean the condition or finishes are behind what's typical nearby, or that the valuation hasn't kept pace with recent sales. It's worth investigating what drives the gap.
2. Is a home built in 1900 likely to have major issues?
Almost certainly it will have the kinds of things you'd expect from a 125-year-old house: older plumbing, electrical, possibly foundation work, and insulation issues. That said, many homes of this vintage in Winnipeg have been well-maintained or partially updated. A thorough inspection is essential, and you should budget for ongoing maintenance.
3. How does the lot size compare to newer homes in Winnipeg?
The lot is larger than average for both Balmoral Street and West Broadway, but it's actually slightly below the全市 average for single-family homes (6,570 sq ft). So it's a good-sized inner-city lot, not a sprawling suburban one. The value is in having more outdoor space than most neighboring properties.
4. What's the neighborhood like in terms of amenities and transit?
West Broadway is a central, walkable area close to downtown, the Exchange District, and the river. You'll find a mix of older homes, apartments, and local shops. Transit access is generally good, and the area has a vibrant but sometimes gritty urban character. It's not a quiet suburban street, so that's something to factor in.
5. Is the low assessed value a red flag or an opportunity?
It can be either. A low assessment relative to square footage often points to deferred maintenance or an outdated interior. But it also means lower property taxes. For a buyer willing to put in sweat equity or a carefully planned renovation, the starting point is affordable and the ceiling for added value is considerable.