1531 Lincoln Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a small, older home in Winnipeg’s Weston neighbourhood, built in 1940. Its main appeal is affordability. The living area is 528 square feet, which is well below the street, neighbourhood, and city averages. The assessed value of $146,000 is also notably low — roughly 40% of the average home on the same street and well under half the citywide average for comparable properties. The lot size is 2,574 square feet, slightly smaller than the street and neighbourhood averages but significantly smaller than the citywide norm.
The property’s strongest relative position is its build year, which lands near the middle of the pack on its street and in the neighbourhood. This suggests the house is not unusually old for its immediate area, even if it is older than most homes citywide.
This property would suit a buyer looking for a low-cost entry into homeownership, someone comfortable with a compact footprint, or an investor seeking a smaller-scale project. It may also appeal to someone who values the older character and tight-knit, established feel of the Weston area, rather than wanting a larger home or yard. The trade-offs are clear: you get a very accessible price point, but the space is limited compared to almost every benchmark.
Frequently Asked Questions
1. How does the size of this home compare to others nearby?
The living area is 528 sqft, which is roughly 38% smaller than the average home on Lincoln Avenue (859 sqft) and about 56% smaller than the Weston neighbourhood average (936 sqft). Citywide, the difference is even larger — the average comparable home is 1,342 sqft.
2. Is the assessed value in line with the property's condition?
At $146,000, the assessed value is well below the street average ($186,000) and the neighbourhood average ($184,700). The citywide average for comparable homes is $390,100. While the assessment alone doesn’t indicate condition, it does reflect the market’s view of the property relative to its peers. A buyer should still budget for a home inspection to understand specific repair or update needs.
3. How old is the house, and is that a concern?
It was built in 1940. This is around the average for its street (1936) and neighbourhood (1937), so it’s not unusually old for the area. Citywide, the average build year for similar homes is 1966, so it is older by that measure. Many homes of this era have solid construction but may require updates to insulation, wiring, or plumbing.
4. What is the lot size, and is there room for expansion?
The lot is 2,574 sqft. This is about 20% smaller than the street average (3,219 sqft) and 21% smaller than the neighbourhood average (3,269 sqft). Compared to the citywide average of 6,570 sqft, the lot is quite modest. Any addition or significant outdoor project would need to be carefully planned within the existing footprint.
5. What is the Weston neighbourhood like?
Weston is an older, established area in Winnipeg known for its mix of post-war housing and proximity to the Assiniboine River and parks. It has a lower average home value compared to much of the city, which can mean more affordable entry points but also less rapid appreciation. Buyers should consider commute times, local amenities, and the overall character of the area, which tends to attract long-term residents and those seeking a quieter, more central location.