287 Young Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,907 sqft home built in 1896, sitting on a 3,501 sqft lot in Winnipeg’s West Broadway neighbourhood. Its standout feature is the lot size—ranked in the top 13% on Young Street and top 51% in the neighbourhood. The living area is also above average for the street (top 14%) and citywide (top 13%), though it falls around the middle of the pack within the broader West Broadway area. The assessed value is notably low: ranked in the bottom 8% citywide and bottom 13% in the neighbourhood, which suggests the property may be undervalued relative to its size or could reflect the age and condition of the home. Built in 1896, it’s one of the older homes on the street and in the city—ranking in the bottom 20% locally and bottom 5% citywide for year built.
The appeal here is space and land for the price. A buyer gets a larger-than-average living area and a generous lot in a central neighbourhood, with a relatively low assessed value. This would suit someone who values square footage and outdoor space over a newer or more polished home—someone willing to take on an older property that may need updating, or who sees potential in a home where the assessed value doesn’t yet reflect what’s there. It’s less suited for buyers looking for a turnkey home in a top-ranked school catchment or a neighbourhood with high resale values, as West Broadway is mixed and the home’s age is a factor.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The assessed value of 195k is slightly below the street average of 201.8k and well below the neighbourhood average of 295.4k. Citywide, it ranks in the bottom 8%—so while you’re getting above-average living space and lot size, the valuation is low, which could mean lower property taxes but also signals the home may need work or is in a less sought-after part of the area.
2. What’s the lot like, and how does it compare?
The lot is 3,501 sqft, which is above average for Young Street (top 13%) but about average for West Broadway. Citywide, it’s below average (top 81%), meaning lots in Winnipeg tend to be larger overall. For this neighbourhood, the lot is a decent size—enough for a garden, small workshop, or expansion, but not oversized by city standards.
3. Is the home’s age a concern?
Yes, it’s an 1896 build, which makes it one of the oldest homes on the street and in the city. That means potential issues with older wiring, plumbing, foundation, and insulation. On the plus side, older homes often have solid construction and character details. A thorough inspection is strongly recommended before purchasing.
4. Why is the living area above average but the assessed value low?
This is the key mismatch. The home has more square footage than most on the street and in the city, but the low assessed value suggests the condition, layout, or location isn’t commanding a premium. It could also mean recent updates haven’t been captured in the assessment, or the home is in a part of West Broadway that appraises lower. Either way, it points to potential value—if you’re willing to invest in improvements.
5. How does this property compare to others on Young Street and in West Broadway?
On Young Street, it’s a standout for lot size and living area but average for assessed value and below average for age. In West Broadway, it’s more typical: living area and lot size are around average, while assessed value is below average. Citywide, it performs well on space but poorly on age and valuation. In short: it’s a property that offers more than the price tag suggests, with the caveat that the home is old and the neighbourhood is mixed.