Property Summary: 299 Mckelvey Street
Key Characteristics & Buyer Profile
This 1905-built home in Winnipeg’s Weston neighbourhood offers 672 square feet of living space on a 2,672-square-foot lot. Its appeal is rooted in a clear trade-off: the property is smaller and older than many comparable homes, but it sits on a lot that is near average for the area and carries an assessed value that is strong relative to its street.
At the street level, the home ranks 4th out of 16 for assessed value (top 25%), meaning it holds its worth well among immediate neighbours despite its modest living area. The lot size (2,672 sqft) is around average for Mckelvey Street and the Weston neighbourhood, which is notable given that the house itself is among the smaller and older options on the block. Citywide, the property sits in the bottom tier for living area and year built, but this is common for older infill-style homes closer to the city core.
This property suits buyers who prioritize a lower purchase price over square footage—the assessed value sits well below both the neighbourhood and city averages. It would work for someone looking for a starter home, a renovation project with solid bones, or a smaller property in an established older neighbourhood where lot size is more generous than the house footprint suggests. It is less suited to buyers seeking move-in-ready spaces, modern layouts, or premium finishes.
Frequently Asked Questions
1. How does the property compare to others in Weston?
The home is below average in living area and year built, but its lot size is around average for the neighbourhood. Its assessed value sits near the neighbourhood median, ranking in the 63rd percentile—meaning it is neither a standout nor an outlier for its area.
2. The build year is 1905. Should I expect significant maintenance?
Yes. Older homes often require more attention to systems (electrical, plumbing, foundation) than newer builds. However, a 1905 home that has been updated over the years can be solid. Buyers should budget for a thorough inspection, especially for knob-and-tube wiring, lead pipes, and insulation.
3. What does the lot size really mean for this property?
At 2,672 square feet, the lot is slightly smaller than the street and neighbourhood averages, but it is not unusually tight. In an older urban area like Weston, lot dimensions can vary block to block. This size is functional for a small yard or garden but leaves limited room for major additions.
4. Why is the assessed value above average on the street but below average citywide?
Mckelvey Street has a concentration of older, smaller homes with lower overall values than many other parts of Winnipeg. This home’s assessed value of $159,000 is high relative to its immediate neighbours, but $159,000 is still modest when compared to the citywide average of $390,100 for comparable properties.
5. Would this property hold its value over time?
Properties in established neighbourhoods like Weston tend to appreciate more slowly than in high-growth areas, but they also tend to have less dramatic downturns. The home’s strong ranking within its street suggests it is not overvalued relative to its block. Long-term value will depend more on the condition of the house and any improvements made than on the neighbourhood average.