250 Pritchard Avenue

250 Pritchard Avenue – Property Summary

What to Know About This Property

This is a 766 sqft home on Pritchard Avenue, built in 1893, with a land area of 2,903 sqft and an assessed value of $72,000. The property is consistently below average across all comparable metrics—street, neighbourhood, and citywide.

The appeal here is not in size, condition, or modern updates. Instead, the property sits in the bottom percentile for assessed value citywide (top 100% of 194,458 properties), which means the entry point is very low relative to the Winnipeg market. For a buyer willing to renovate or rebuild, the land itself—2,903 sqft in the William Whyte neighbourhood—may hold more long-term potential than the current structure. Year-built data shows it’s among the oldest homes on the street (1893 vs. a street average of 1937), so systems and foundation should be inspected carefully.

This property would best suit a hands-on buyer—someone with renovation experience, a contractor, or an investor comfortable with significant work. It is less suited for a first-time buyer looking for move-in ready or a family needing immediate space. The low asking price relative to city averages could offset some renovation costs, but the risks are real: small living area, older construction, and a neighbourhood where values are also below average.

Five Frequently Asked Questions

1. How does the living area compare to other homes in Winnipeg?
The home is 766 sqft, which is below the street average (1,048 sqft), the neighbourhood average (1,158 sqft), and the citywide average (1,342 sqft). It ranks in the bottom 7% citywide for living area.

2. Is the assessed value of $72,000 realistic for this property?
Yes—it is consistent with the property’s size, age, and location. On Pritchard Avenue, the average assessed value is $182,200, so this home sits well below that. The citywide average is $390,100. This low assessment reflects the current condition and market position.

3. What should I know about the year built?
Built in 1893, this is one of the oldest homes on the street (top 99% oldest). The neighbourhood average year built is 1927, and the citywide average is 1966. Older homes often have unique character but may require updating for electrical, plumbing, insulation, and foundation work.

4. How large is the land, and is it usable?
The lot is 2,903 sqft. It is smaller than the street average (3,730 sqft), the neighbourhood average (3,277 sqft), and well below the citywide average (6,570 sqft). It is a standard urban lot for this area, but limited for expansion or additional structures without variance.

5. What type of buyer would benefit most from this property?
Buyers who are comfortable with renovation, have access to capital for repairs, and are looking for a low-cost entry into Winnipeg’s real estate market. It may also suit an investor focused on long-term land value in a neighbourhood that has room for growth, though immediate resale potential is low without significant improvements.