2059 Gallagher Avenue – Property Summary
Key Characteristics & Appeal
This is a 1905 home with 1,044 sqft of living space on a 2,996 sqft lot, located in Winnipeg’s Weston neighbourhood. Its assessed value is 121k.
The property sits in the middle of the pack in several categories. The living area is roughly average for the street and neighbourhood, and slightly below the citywide average for comparable homes. The lot size is above average on Gallagher Avenue itself but drops to around average in the broader neighbourhood, and well below typical citywide lot dimensions. The home’s age—over 120 years—places it among the older structures both locally and citywide. The assessed value is notably low, ranking in the bottom 16% on the street and bottom 8% in the neighbourhood, and in the very bottom percentile citywide.
The appeal here is straightforward: entry-level price point in an established inner-city neighbourhood. This is not a renovated or modernized showpiece. It suits buyers who are comfortable with an older home, possibly looking for a project or a low-cost entry into homeownership. The modest assessment suggests this is priced well below many nearby properties, which could mean lower property taxes and less competition. It may also appeal to investors or flippers who see potential to add value through updates, though the lot size limits expansion relative to newer suburban properties. Location in Weston offers proximity to downtown Winnipeg and established amenities, but buyers should be realistic about the home’s age and condition—this is not a turnkey property.
Five Possible FAQs
1. Is this a good investment for a first-time buyer?
If you’re handy, patient, and focused on low entry cost, it could be. The low assessed value keeps taxes manageable, and the older structure may allow for sweat equity. But you should budget for potential maintenance and upgrade costs that come with a home built in 1905—older wiring, plumbing, and insulation are common concerns.
2. Why is the assessed value so low compared to the city average?
The home is older, smaller in square footage than the citywide average for comparable homes, and located in a neighbourhood where property values are generally below the Winnipeg median. The low ranking citywide (bottom 1%) reflects that this is a lower-priced segment of the market.
3. How does the lot size affect what I can do with the property?
At 2,996 sqft, the lot is generous for the street but standard for the neighbourhood. You won’t have room for major additions or a large backyard by suburban standards. If you’re hoping to redevelop or build new, check local zoning—this is typical of older urban infill lots where expansion options are limited.
4. What are the main trade-offs of buying a home this old?
Character and location are the positives: older homes often have solid construction and mature neighbourhoods. The trade-offs include likely outdated systems (electrical, plumbing, heating), potential for hidden issues like knob-and-tube wiring or lead pipes, and higher ongoing upkeep. A thorough home inspection is essential.
5. How does this property compare to others currently on the market in Weston?
Data suggests it’s priced below many nearby homes, given its below-average assessment. But that doesn’t automatically mean it’s a deal—it reflects age, size, and condition. Look at recent sale prices for similar vintage homes in the area to see if the list price aligns with what comparable properties have actually sold for.