Property Overview: 125 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Bruce Park is defined by its modern foundation and efficient scale. Built in 2024, it is a notably new construction for the area, offering move-in readiness with a renovated basement. With 1,529 sqft of living space, it provides ample room for a small family or couple, ranking well above average for size both on its street and in the wider neighbourhood.
The primary appeal lies in its balance of new-build benefits within an established community. You gain modern systems, insulation, and layout efficiencies without the full cost or wait of a custom build. The lot size (2,712 sqft) is average for Collegiate Street, suggesting a manageable yard with less maintenance than larger, older properties nearby. Its strong assessed and recent sale value relative to local comparables indicates a solid initial investment in a desirable pocket of Bruce Park.
This property would best suit first-time homeowners or downsizers seeking a low-maintenance, modern home without leaving a mature neighbourhood. It’s also a practical fit for investors or buyers who value newer mechanicals and building envelope, preferring to decorate rather than renovate.
Section 2: Frequently Asked Questions
1. Is the price reflective of a new build?
While built in 2024, the sale price aligns closely with the home's assessed value and recent sales of similar-valued properties in Winnipeg. The value proposition is less about "new construction premium" and more about the cost certainty and modern efficiency it provides compared to an older home requiring updates.
2. What does the "renovated basement" include?
The listing specifies a renovated basement, but the scope and finish level are not detailed. This should be a key point of inquiry to understand if it’s a finished living space, a modernized utility area, or has legal suite potential.
3. How does no garage impact convenience and value?
The property has no garage. For the area, this is not uncommon, but buyers should consider on-street parking protocols with the city and factor in the cost of adding a shed or covered parking if desired.
4. The lot is smaller than the neighbourhood average. Is that a concern?
The lot is average for Collegiate Street but below the broader Bruce Park average. This translates to less outdoor maintenance—a plus for some—but may limit expansion possibilities. The trade-off is a newer, larger home on a proportionally smaller parcel.
5. Why is the assessed value so much lower than the city-wide average?
The city-wide average assessed value includes all property types and sizes across Winnipeg. This home’s assessment is appropriately higher than most on its street and in Bruce Park, confirming its relative premium in its immediate market context.