481 Burrows Avenue – Property Summary
Key Characteristics & Buyer Suitability
This is a 1905 home with 960 sqft of living space on a 3,268 sqft lot, located on Burrows Avenue in the William Whyte neighbourhood of Winnipeg. Its assessed value is $94,000.
The property sits in a distinct position relative to its surroundings. On the street and in the neighbourhood, its living area and land size are fairly typical—not unusually small or large. The lot, at just over 3,200 sqft, is actually slightly better than average for the area, ranking in the top 40% on the street. The house itself, however, is older than most nearby homes, and the assessed value is significantly below both the street and neighbourhood averages. Citywide, both the living area and lot size fall below typical single-family home dimensions.
What stands out here is the combination of a modest, older home on a relatively standard lot, priced well below comparable properties in the immediate area. The appeal is not in move-in-ready polish or modern size, but in affordability and potential. For a buyer comfortable with an older structure, this could offer a much lower entry point than other homes on the same street. The low assessed value may also suggest room for gradual improvements that could build equity over time.
This property would best suit a buyer looking for an entry-level purchase in a central Winnipeg neighbourhood, someone with the patience and resources to update an older home, or an investor seeking a low-cost addition to a portfolio. It is less suited to anyone needing a larger, newer, or turnkey property.
Frequently Asked Questions
1. Why is the assessed value so much lower than the street average?
The street average is pulled higher by a number of newer or larger homes. This property is older and smaller, so its value is closer to the lower end of the range. The $94,000 figure reflects its current condition, age, and size relative to what’s typical locally.
2. Is the house in poor condition because of its age?
Not necessarily. Age alone doesn’t indicate condition. A 1905 house can be well-maintained or extensively renovated, but it can also have outdated systems. A home inspection would be essential here to understand the actual state of the foundation, wiring, plumbing, and insulation.
3. How do property taxes work with a $94,000 assessment?
Property taxes in Winnipeg are based on the assessed value. A lower assessment generally means lower annual taxes compared to higher-valued homes in the same city. You can use the City of Winnipeg’s property tax calculator to estimate the exact amount for this property.
4. What does “Top 40%” for land area on the street actually mean?
It means this lot is larger than about 40% of other lots on Burrows Avenue, but smaller than the other 60%. It’s not a standout lot, but it’s not undersized for the area either. For comparison, the average lot size on the street is 3,497 sqft—this one is 3,268 sqft.
5. Is William Whyte considered a desirable neighbourhood right now?
William Whyte is a central, older neighbourhood with a mix of well-kept homes and properties needing work. It has a lower average home value than many Winnipeg neighbourhoods, which attracts buyers looking for affordability. Proximity to downtown and the North End means it has both conveniences and challenges—it’s worth spending time in the area at different times of day to get a feel for the block.