Property at 265 Young Street
Key Characteristics & Buyer Profile
This is a home that delivers strong interior space for its price, but comes with compromises on the lot and location within the city. The living area is 1,820 sqft, which ranks in the top 17% on Young Street and the top 16% citywide—making it genuinely spacious compared to other homes in its bracket. The assessed value sits at $273,000, which is above average for the street itself (top 19%) but notably below the citywide average of $390,100. The lot is the main trade-off: at 2,999 sqft, it’s smaller than typical for the neighborhood and well below city norms. The home was built in 1902, placing it among the oldest properties in the city (top 99% by age).
This property appeals most to buyers who prioritize square footage and a reasonable purchase price over having a large yard or a newer build. It’s a realistic fit for someone who wants a generous amount of finished interior space in a central Winnipeg neighborhood like West Broadway, without paying a premium for land or modern construction. It’s less suited for families seeking a big backyard or buyers who want a move-in-ready home with minimal maintenance concerns due to age. The property’s value lies in its space-for-dollar ratio rather than its lot or location-wide desirability.
Frequently Asked Questions
1. How does the living space compare to other homes in the area?
It’s significantly above average. On Young Street, it ranks in the top 17% for living area, and citywide it’s in the top 16%. The neighborhood average is actually higher (2,017 sqft), but that’s because West Broadway includes some larger older homes. Compared to similar-priced homes across Winnipeg, this property gives you notably more interior room.
2. The assessed value is $273,000—is that a good deal?
It depends on what you value. The assessment is 35% higher than the average on Young Street, but 30% lower than the citywide average for comparable homes. You’re paying a bit more than your immediate neighbors, but well below what a similar-sized home would cost in many other parts of Winnipeg. The low citywide rank (bottom 78%) suggests the market hasn’t priced this home as highly as newer or more desirable locations.
3. What’s the catch with a home built in 1902?
Age is a double-edged sword. The home has likely been updated over the years, but you’re buying into a structure that’s over 120 years old. It ranks in the bottom 1% citywide for year built, meaning almost all homes in Winnipeg are newer. Expect potential issues with foundations, wiring, plumbing, and insulation that come with very old construction. A thorough inspection is essential.
4. How will the small lot affect the property’s value or use?
The 2,999 sqft lot is below average for Young Street and well below the West Broadway and citywide averages. This limits outdoor space for gardening, play, or expansion. It may also make the property less appealing to future buyers who prioritize outdoor space. On the upside, a smaller lot typically means less yard maintenance and lower property taxes relative to land value.
5. Is West Broadway a good neighborhood for resale value?
It’s mixed. The neighborhood ranks around average for assessed value (top 53%) and home age, but the citywide data shows these homes trail behind many other parts of Winnipeg in price. The area is central and walkable, with character homes, which appeals to some buyers. However, if resale growth is a priority, you may want to compare West Broadway against other neighborhoods that have seen stronger appreciation in recent years.