1347 Winnipeg Avenue W – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a compact, older home with a small footprint but a notably large lot. The living area is 700 square feet—well below street, neighbourhood, and city averages—placing it among the smallest homes in its immediate area (top 90% on the street, top 96% citywide). The house was built in 1945, which is newer than most neighbours on the street (average 1934) but still older than the citywide average. The land area is where this property stands out: 4,413 square feet ranks in the top 13% on the street and top 14% in the neighbourhood. Assessed value is $229,000, above the street and neighbourhood averages but well below the citywide median of $390,100.
The appeal lies in the land-to-building ratio. The lot is generous for the area, and the home itself is modest—offering a rare combination of a small, potentially lower-maintenance house on a large, well-ranked lot in the Weston neighbourhood. This property would suit a buyer looking for good land value in an older, established area, possibly with plans to renovate, expand, or rebuild. It’s less suited for someone seeking move-in-ready space or a larger contemporary floor plan. The numbers also suggest the assessed value is driven more by land than by the structure, which may attract value-conscious buyers or investors.
Frequently Asked Questions
1. Why is the living area so small compared to other homes?
The 700 sqft living area is below the street average (1,121 sqft) and the city average (1,342 sqft). This is partly a function of the home’s age—1945—when smaller floor plans were more standard. It also means the value is concentrated in the land, not the building.
2. How does the assessed value compare to similar homes nearby?
The assessed value of $229,000 is above the street average ($198,400) and neighbourhood average ($184,700), reflecting the larger lot size. But it remains well below the citywide average ($390,100), which includes much larger homes in newer developments.
3. Is this property a good candidate for renovation or redevelopment?
The land area ranks in the top 13% on the street and top 14% in the neighbourhood, so the lot is a strong asset. However, any plans to expand or rebuild would need to check local zoning, setbacks, and permit requirements. The existing structure is modest, which could make renovation simpler than on a larger home.
4. How does the year built affect maintenance or insurance?
Built in 1945, the home is about average for the neighbourhood (average 1937) but older than most citywide (average 1966). Older homes can have outdated electrical, plumbing, or insulation, though they often have solid framing and quality materials. Buyers should budget for a thorough inspection, especially for foundations and systems.
5. What does “rank by land area, larger = better rank” mean?
It means that among comparable homes in the same dataset, a larger lot gets a higher (better) ranking. For this property, the 4,413 sqft lot ranks #19 out of 142 on the street (top 13%), meaning only about 18 homes have more land. It’s a top-tier lot in its immediate context, even though it’s still below the citywide average lot size.