389 Aberdeen Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a compact, older home in Winnipeg’s William Whyte neighbourhood with an 862 sqft living area on a 2,999 sqft lot, built in 1905. Its assessed value sits at $104,000.
The property’s main appeal is its affordability. Compared citywide, the assessed value ranks in the bottom 1%—meaning it’s priced well below nearly all other Winnipeg homes. The lot size, while modest, is close to the street average, and the land-to-building ratio leaves some room for future expansion or yard use. For someone comfortable with a smaller living space and an older structure, this represents one of the most budget-friendly entry points into the city’s housing market.
That said, the numbers tell a clear story: the home is smaller, older, and less valuable than most properties on its own street, let alone the broader city. The year built (1905) places it among the oldest 9% of homes on Aberdeen Avenue, which means buyers should expect maintenance associated with vintage construction—older foundations, wiring, and plumbing may need attention.
This property would suit a first-time buyer with limited capital who prioritizes a low purchase price over space or modern finishes. It could also work for an investor looking for a low-cost rental property in a neighbourhood with below-average valuations, or someone who enjoys hands-on renovation and is willing to put time into upgrades over the long term. It is less suited to buyers seeking a move-in-ready home, more space, or a property with strong immediate resale value.
Five Possible FAQs
1. How does this property compare to others in the area?
On the street level, it’s around average for living area and land size, but below average in assessed value and year built. In the wider William Whyte neighbourhood, it falls below the median across all four categories. Citywide, it ranks very low, especially in value and age.
2. What does “ranked #168,715 out of 194,458” mean for living area?
It means that across all comparable homes in Winnipeg, roughly 87% are larger. So this is a small home by city standards, not just by local comparison. Buyers should be realistic about floor space.
3. Is the assessed value of $104,000 a reliable indicator of market price?
Not necessarily. Assessed value is a benchmark used for property tax calculations, not a guaranteed sale price. In a low-value neighbourhood, actual sale price could be close to or slightly above assessment, but condition, demand, and recent sales on the street will matter more.
4. What are the main risks of buying a 1905 home?
Older homes often have outdated systems (electrical, plumbing, heating), potentially lead paint or asbestos, and foundations that may need repair. Renovations may require bringing the house up to current code, which adds cost. A thorough home inspection is highly recommended.
5. Could this property be a good renovation project?
It could, but with caveats. The lot size is decent for the street, so adding square footage might be possible—depending on zoning. However, the low assessed value and older construction mean that major renovations could easily exceed the home’s post-renovation value. A light reno (cosmetic updates, appliance upgrades) is lower risk than a full gut job.