301 Mckelvey Street – Property Summary
Key Characteristics and Buyer Profile
This is a 1908-built home with 770 sqft of living space on a 2,524 sqft lot, located in Winnipeg’s Weston neighbourhood. Its assessed value is $118,000.
The property’s main appeal lies in its affordability relative to citywide benchmarks. The assessed value sits well below the Winnipeg average of $390,000, and the living space is smaller than typical. For a buyer who is cost-conscious or looking to enter the market at a lower price point, this property offers a more accessible option than most single-family homes in the city. The lot size is also compact, which may appeal to someone who wants a yard but isn’t looking for extensive outdoor maintenance.
Compared to other homes on Mckelvey Street and in Weston, the property is generally close to the neighbourhood averages in living area and age—though slightly on the smaller and older side. Where it stands out most is its low valuation, which suggests a more budget-friendly entry into the area.
This home would suit first-time buyers with limited budgets, investors looking for a lower-cost property in an established Winnipeg neighbourhood, or someone who values a smaller footprint and is not concerned with modern square footage standards. Buyers should be comfortable with an older home and prepared for the upkeep that typically comes with a property built over a century ago.
Frequently Asked Questions
1. How does this property compare to others in Weston?
The home is broadly in line with the neighbourhood. It ranks in the middle to lower portion of Weston for living area, lot size, and age. Its assessed value is below the community average, which partly reflects its smaller size.
2. Is the assessed value a good indicator of market price?
Assessed value is used for property tax purposes and may not match current market value, especially in a changing market. It can be a useful reference point, but buyers should look at recent sales of comparable homes in Weston for a better sense of what this property might sell for.
3. What should I expect from a home built in 1908?
An older home often means character details, but also potential issues with outdated wiring, plumbing, insulation, or foundation work. A thorough home inspection is strongly recommended. The age ranking suggests many nearby homes are older too, so the neighbourhood’s housing stock may have similar quirks.
4. How manageable is a 2,524 sqft lot?
It is smaller than both the street and community averages. That can be a plus for someone who wants outdoor space without the time or cost of maintaining a larger yard. It may also mean less space for additions, gardens, or off-street parking.
5. Who typically buys homes in this part of Weston?
Weston is a long-established area with a mix of longtime residents and newer buyers drawn by lower prices. Buyers here often value proximity to downtown Winnipeg and the river, and they tend to be comfortable with older homes and ongoing maintenance. It is less common to see luxury renovations or major expansions in this price range.