1543 Elgin Avenue W – Property Summary
Key Characteristics & Buyer Profile
This is a 1,024 sqft home built in 1911, sitting on a 2,597 sqft lot in Winnipeg’s Weston neighbourhood. Its assessed value is $183,000.
The property’s main draw is value within the local market. While its living area and lot size are below citywide averages, the assessed value places it in the bottom 6% citywide—meaning it's priced significantly lower than the typical Winnipeg home. In the Weston neighbourhood, it ranks near the middle for value and living space, so it fits well with local norms rather than standing out as an anomaly. The house is older than most in the area, which may appeal to buyers who appreciate character, established streetscapes, or are willing to invest in updates.
This property would suit a first-time buyer looking for an affordable entry point into a stable, older neighbourhood, or an investor seeking a lower-cost property in a market where land values are climbing less aggressively than newer suburbs. It’s less suited for someone wanting a turnkey modern home or a large yard.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
On its street, the assessed value of $183,000 is slightly below the average of $189,600, ranking in the top 44%. In the Weston neighbourhood, it's close to the $184,700 average, also in the top 44%. Citywide, it's well below the $390,100 average for comparable homes, placing it in the bottom tier for value.
2. Is the home considered small or large for its area?
At 1,024 sqft, it's slightly smaller than the street average (1,113 sqft) but larger than the Weston neighbourhood average (936 sqft). Citywide, it's below the typical comparable home size of 1,342 sqft. It's a modestly sized home that aligns more closely with older inner-city housing stock.
3. How old is the property, and is that unusual for the neighbourhood?
Built in 1911, this home is older than both the street average (1932) and the neighbourhood average (1937). It's in the oldest quarter of homes citywide. While not unusual for Weston—an area with a mix of early 20th-century housing—buyers should budget for potential older-system maintenance.
4. What is the lot size, and does it offer outdoor space?
The land area is 2,597 sqft. This is below the street average (3,608 sqft) and well below the citywide average (6,570 sqft). It's a compact lot that suits low-maintenance outdoor living but won't accommodate large gardens or expansions.
5. How are the rankings and color-coded bars calculated?
The rankings compare the property to "comparable homes" within the same street, neighbourhood, and city. A higher rank (lower number) is better for living area, land area, and value. For year built, a newer home gets a better rank. The bar fill length shows the share of peers you outperform, with tier colors (red, blue, amber, gray) indicating performance relative to the median benchmark for each scope.