Property Overview: 68 Raphael Street, Winnipeg
Key Characteristics & Appeal
This two-storey home in Fairfield Park is distinguished by its generous scale and modern build. With 2,860 sqft of living space, it ranks within the top 10% on its street and the top 2% within the neighbourhood, offering significantly more room than typical Winnipeg homes. Built in 2007, it is a relatively newer property in a city with many older homes, suggesting modern construction standards and less immediate need for major updates. The lot size of over 10,000 sqft is a standout feature, placing it in the top 5% of Fairfield Park, providing ample outdoor space rarely found in newer subdivisions.
The home’s appeal lies in this combination of space, modernity, and land. It suits buyers looking for a move-in-ready family home where the square footage and yard size are premium assets. It would particularly fit growing families needing multiple bedrooms and play space, or those who value privacy and room for gardens, recreation, or future additions like a deck or patio. The renovated basement adds functional living space, increasing its utility. A thoughtful perspective is that while the assessed value is high for the area, the recent sale price suggests the market recognizes a premium for this specific package of attributes—newer construction on a large lot in an established neighbourhood.
Frequently Asked Questions
1. How does the sale price compare to the assessed value?
The home sold for $95,100 in August 2024, which is notably higher than its $86,700 assessed value. This indicates strong market demand and buyer willingness to pay a premium for this property's specific features.
2. Is the lot size typical for the area?
No, it is exceptional. At 10,388 sqft, the lot is significantly larger than the Fairfield Park average (~6,105 sqft), placing it in the neighbourhood's top 5%. This is one of the property's key advantages.
3. What does the "Elite" ranking for living area mean?
It means the home's interior square footage (2,860 sqft) is larger than 98% of homes in Fairfield Park and 99% of homes city-wide. You are getting a home with space well above the norm for Winnipeg.
4. Are there any obvious drawbacks based on the data?
The data shows no pool, which some buyers may desire. While the attached garage is a plus, the metrics don't specify size or condition. The home's assessed value is in the top 19% on its own street, meaning property taxes will likely be higher than many neighbours.
5. Who might this home not suit?
It may not suit first-time buyers or those with a strict budget, given its premium price point. It might also be more space than needed for empty-nesters or singles. Buyers seeking a historic character home or a brand-new build (post-2020) might also look elsewhere.