574 Burrows Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 960-square-foot home built in 1911, located on Burrows Avenue in Winnipeg’s William Whyte neighbourhood. The lot is 2,463 square feet, and the current assessed value is $105,000.
Where this property stands out is its price point. The assessed value is significantly below both the street average ($227,300) and the citywide average ($390,100), making it one of the most affordable options in the area – ranked in the bottom 7% on its own street and bottom 1% citywide. This suggests a realistic entry-level price for someone looking to get into the market with minimal financial stretch.
The trade-offs are evident in the other metrics. The living area (960 sqft) is slightly below the street and neighbourhood averages but still falls within a typical range for older homes. The land area is notably smaller than most comparable properties – roughly 30% less than the neighbourhood average. The home’s age (1911) places it among the older stock in the area, which could mean more maintenance or renovation needs, but also potentially more character if well-maintained.
Appeal & likely buyers: This property would suit a first-time homebuyer, a small household, or someone looking for a low-cost entry into a central Winnipeg neighbourhood. It may also appeal to an investor seeking a low-acquisition-cost rental property, provided the condition supports it. Buyers should be comfortable with a smaller lot and an older structure – the value here is in affordability, not size or modern condition. It is not well-suited for someone looking for a large family home, a spacious yard, or a turnkey property with contemporary finishes.
Five Frequently Asked Questions
1. How does the assessed value compare to actual market price?
The assessed value of $105,000 is a baseline used for property tax calculations, not necessarily the market price. In the current Winnipeg market, older homes in William Whyte can sell for above or below assessed value depending on condition, upgrades, and demand. A local real estate agent or recent sale data for similar properties on Burrows Avenue would give a clearer picture of what to expect.
2. What is the condition of the home, given it was built in 1911?
The property detail page does not include condition information. Homes from this era vary widely – some have been fully updated with new electrical, plumbing, and insulation, while others may retain original systems. A thorough home inspection is essential, particularly for the foundation, roof, and mechanical systems. Older homes may also have lead paint or asbestos, which should be assessed before any renovation.
3. Is the small lot size a concern for future resale?
A 2,463 sqft lot is below average for the area and city. For some buyers, this means less yard maintenance and a smaller footprint. However, it may also limit expansion options, garage construction, or outdoor living space. Resale could be more challenging if the neighbourhood trend moves toward larger lots, but for entry-level buyers who prioritize affordability over space, it may not be a drawback.
4. How do property taxes and utilities typically run for this type of home?
Property taxes are based on the assessed value, so at $105,000, they would be on the lower end for Winnipeg. Utility costs, however, could be higher than average due to the home’s age – older windows, less efficient insulation, and aging heating systems can drive up heating and electricity bills. Buyers should request recent utility bills to estimate actual monthly costs.
5. What is the William Whyte neighbourhood like for living or investing?
William Whyte is a central Winnipeg neighbourhood with a mix of older homes, rental properties, and some recent infill development. It has historically been more affordable than many other parts of the city. Amenities, transit access, and proximity to downtown are generally good. Buyers should consider their comfort level with the area’s current character and long-term development trends – visiting the street at different times of day and talking to neighbours can provide a realistic sense of day-to-day life.