515 Burrows Avenue – Property Summary

Key Characteristics & Appeal

This 1,452-square-foot home, built in 1922, sits on a 3,268-square-foot lot in the William Whyte neighbourhood of Winnipeg. Its standout feature is living space: it ranks in the top 15% on the street and top 19% in the area, offering roughly 300 more square feet than the average nearby home. The assessed value of $245,000 is modest citywide—well below Winnipeg’s average of $390,100—but significantly above the neighbourhood average of $149,100, reflecting a property that’s roomier and more valuable than most of its immediate peers. The land area is unremarkable locally, and at city scale it’s compact compared to typical Winnipeg lots.

The appeal lies in the disconnection between space and price. Buyers get a relatively large house in a neighbourhood where smaller homes dominate, at an assessed value that’s reasonable by city standards. The older construction (1922) means character details are likely present, but also implies maintenance considerations typical of a century home. This property would suit someone who prioritises interior square footage over lot size, and who is comfortable with an older house in an area that isn’t high-value citywide but where their dollar goes further. It’s less suited to buyers seeking a newer build, a large yard, or a property positioned near citywide median values.

FAQs

1. How does the assessed value compare to similar homes nearby?
The assessed value of $245,000 ranks in the top 7% of the neighbourhood, well above the average of $149,100. On the street itself, it’s roughly average (top 45%), so the premium is more about location within William Whyte than about the house being unusually expensive for its immediate block.

2. Is the land area small, and does that matter?
The lot is 3,268 square feet—around average for the neighbourhood (top 42%) but well below the citywide average of 6,570 square feet. If you want a large garden, space for additions, or a deep backyard, this isn’t the right property. But for a home where indoor space is the priority, the lot size is less relevant.

3. What should I expect from a house built in 1922?
The year built is typical for the street and slightly newer than the neighbourhood average (1927), but it’s older than most homes citywide (average 1966). You’re likely looking at plaster walls, original trim, and possibly knob-and-tube wiring or an older foundation. Budget for updates to systems, insulation, and windows if they haven’t been done recently.

4. How does this property rank citywide, overall?
Citywide, the living area is in the top 33%, the assessed value is in the bottom 16%, and the land area is in the bottom 16%. In other words, you’re getting a house with above-average space at a below-average price, on a smaller-than-typical lot—a trade-off that’s common in older, inner-city neighbourhoods.

5. Who would this home not be right for?
It wouldn’t suit first-time buyers looking for turnkey convenience in a newer subdivision, families wanting a large backyard, or investors targeting properties near citywide median appreciation. It’s a better fit for someone who sees value in older construction, doesn’t mind a compact lot, and wants more interior room without paying a premium for location.