488 Aberdeen Avenue – Property Summary

Key Characteristics & Ideal Buyer Profile

This is a 1914 home with 2,194 square feet of living space on a 3,049-square-foot lot, located in the William Whyte neighbourhood of Winnipeg. Its standout feature is size. The living area ranks in the top 1% on its street and top 2% in the area, putting it in a completely different category from most nearby homes, which average roughly half that square footage.

That extra space does come with context. The assessed value ($186K) is above the neighbourhood average ($149K) but well below the citywide average ($390K), reflecting both the home’s age and the area’s pricing. The year built (1914) is typical for the street and neighbourhood but older than the city average by about 50 years. The lot is modest relative to many Winnipeg properties.

The appeal here is straightforward but specific. You get a large interior in a neighbourhood where that much space is uncommon. For someone who prioritises square footage and is comfortable with an older home in a more modestly priced area, this represents a trade-off that can work well. It would likely suit buyers who are handy or open to updating over time, and who don’t need a large yard or a turnkey property in a higher-demand district. It may also appeal to investors or those looking for a house with bones that can gain value through gradual improvements, given the assessed value is already above the local average.

Five Possible FAQs

1. How does this home compare to others on Aberdeen Avenue?
On the same street, it ranks in the top 1% for living area but around average for land size and year built, and its assessed value sits in the top third. So it’s the largest house on the block, but not necessarily the newest or most valuable.

2. Is the assessed value a reliable indicator of market price?
Assessed value is a useful benchmark, not a direct price tag. In this case, the home is assessed above both the street and neighbourhood averages, which suggests it’s already positioned higher than typical local sales. Market conditions and renovations will affect final price.

3. What should someone consider before buying a home from 1914?
Older homes often have character and solid construction, but they can also come with outdated systems, insulation, or foundations. It’s worth having a detailed inspection focused on electrical, plumbing, and the roof, as these are common areas of concern in century-old houses.

4. Why is the land area so much smaller than the city average?
At 3,049 sqft, the lot is below the Winnipeg average of 6,570 sqft. This isn’t unusual for older, more central neighbourhoods like William Whyte, where lots were originally subdivided smaller. If a large yard is a priority, this may not be the right fit.

5. Who would benefit most from living in this area?
The William Whyte neighbourhood offers more affordable entry into homeownership compared to many parts of Winnipeg, with the trade-off being less established retail or amenities within walking distance. Buyers who are comfortable with a grittier urban setting and focused on interior space over location prestige will find the most value here.