Key Characteristics & Buyer Profile
This is a 1903-built home on Spence Street in Winnipeg's West Broadway area, with 1,726 square feet of living space on a 3,791-square-foot lot. Its assessed value for tax purposes is $307,000.
The property’s main appeal lies in its solid middle-ground positioning. While the house is older than most in the city (ranking in the oldest 1% city-wide), its living space is noticeably larger than the Winnipeg average, placing it in the top 20% across the city. On its own street and in the neighbourhood, the size is very much in line with typical homes. The assessed value also sits comfortably around the middle for the area, suggesting the price is not out of step with what similar nearby properties are worth.
This home is best suited for a buyer who values established inner-city character over modern construction and is comfortable with an older, unrenovated (or partially updated) structure. It’s a realistic fit for someone who wants decent interior space and a manageable lot in a central location, without paying a premium for a fully modernized house or a large yard. It would likely appeal to those looking for a long-term project or a home that is already functional but could benefit from gradual, thoughtful updates. The numbers suggest this is a practical, not flashy, option—a house that is substantial inside relative to its street and neighbourhood context, even if it doesn’t stand out on paper in any single category.
Frequently Asked Questions
1. How does this home’s condition compare to others in the area?
The data provided doesn’t describe interior condition directly, but two things are telling: the property is from 1903, and its assessed value is average for the neighbourhood. That combination often points to a house that is habitable and structurally acceptable but likely lacks high-end finishes or major system overhauls. It’s a good candidate for an inspection focused on older-home issues like wiring, plumbing, and foundation.
2. Is the lot size a limitation?
At 3,791 square feet, the lot is smaller than the typical Winnipeg property by a fair margin. However, it’s almost exactly average for both its street and the West Broadway area. If you’re looking for a large backyard or room for an addition, this might feel tight. But for maintenance and inner-city living, this size is entirely typical and not a red flag.
3. Why is the assessed value so different from the city average?
The city-wide average assessed value ($390,000) is pulled up by newer, larger homes in suburban and higher-income areas. This home’s $307,000 assessment is very close to both its street and neighbourhood averages, which are more relevant. It reflects what similar older, centrally-located homes in this part of Winnipeg tend to be worth.
4. How significant is the “top 20%” ranking for living space city-wide?
It’s a meaningful stat if you want more room than what most Winnipeg homes offer, but it’s important to keep it in context. Within its own older neighbourhood, this home’s size is average. The city-wide ranking is high simply because so many Winnipeg homes are newer and smaller. The 1,726 square feet is a decent amount of space, not a mansion.
5. Should I be concerned about the 1903 build year?
Yes, but not necessarily as a dealbreaker. The house’s age means it predates modern building codes, insulation standards, and electrical capacity. You should expect quirks and the potential for hidden issues. On the positive side, homes of this vintage in this area have often survived well if they’ve been maintained. The fact that it’s typical for the street suggests most neighbours are dealing with the same set of considerations.