60 Hominick Place

60 Hominick Place – Property Summary

Key Characteristics & Buyer Fit

This property at 60 Hominick Place in Winnipeg’s Canterbury Park neighbourhood offers a distinct trade-off: a below-average assessed value paired with an unusually large lot. At $149,000, the assessed value ranks well below both the street average ($411,100) and the neighbourhood average ($408,800), placing it in the bottom tier citywide. The home itself is modest in size—roughly 1,420 square feet of living area, slightly above the neighbourhood average—and was built in 2025, making it new construction in an area where most homes date to the late 1990s.

The standout feature is the lot: 7,523 square feet. That’s the largest on the street, and within the top 7% in Canterbury Park. For buyers who prioritize outdoor space—gardening, a workshop, room for kids or pets, or future expansion possibilities—this lot offers something most nearby properties don’t. The appeal lies in the contrast between a low entry point and a premium physical footprint. It suits buyers who are willing to compromise on neighbourhood prestige or immediate resale polish in exchange for square footage they can shape themselves. This isn’t a turnkey investment; it’s a long-term play for someone who values land over finish quality.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
   The assessment reflects the current improvement (the house itself), not just the land. A value of $149,000 suggests the structure is modest or minimal relative to newer or larger homes nearby—especially given the average on Hominick Place tops $411,000. The lot is the asset here.

2. Does a low assessment mean the property is undervalued?
   Not necessarily. Assessments lag market conditions, but they’re based on recent sales and physical characteristics. A low assessment often indicates the home needs significant work or is smaller/older than others. In this case, the house is new (2025), so the low value may reflect a basic build or small floor plan relative to land size.

3. What are the risks of buying in a neighbourhood ranked in the bottom 100%?
   That ranking is based on assessed value, not quality of life. Canterbury Park is an established area, and a low-value property within it could mean fewer nearby comparables, making future resale less predictable. However, the large lot provides a buffer—land tends to appreciate more steadily than structures in this range.

4. How does the lot size compare to typical city lots in Winnipeg?
   The citywide average for comparable homes is 6,570 square feet, so this lot exceeds that by about 15%. Within the neighbourhood, it’s in the top 7%, which is unusual for a property at this price point. It’s more common to find larger lots attached to higher-value homes.

5. Is this property suitable for an investor or a first-time buyer?
   It could work for both, but for different reasons. An investor might buy for the land alone, particularly if zoning allows future development. A first-time buyer would need to be comfortable with a low-value home on high-value land—potentially a fixer-upper or a bare-bones structure—and plan to hold long enough for the land to offset any structural depreciation.