Property Overview: 19 Namarik Way, Winnipeg
Key Characteristics & Buyer Appeal
This two-storey home in Fraipont is a modern property, built just two years ago in 2024. Its key characteristic is its newness, ranking it among the newest 1% of homes both in the wider city and within its own neighbourhood—a significant advantage for buyers seeking contemporary construction and minimal immediate maintenance. With 1,510 sqft of living space, it offers above-average roominess citywide but is a more modest size compared to its immediate neighbours on Namarik Way. The home features an attached garage and an unfinished basement, presenting a blank canvas for future customization.
The appeal lies in acquiring a like-new home without the premium often attached to brand-new builds, and in its strong value positioning. While its assessed value is average for Fraipont, it stands well above the citywide average, suggesting a solid investment in a desirable area. The lot size is manageable, ideal for those who prefer less yard upkeep. This property would best suit first-time buyers or downsizers who prioritize modern, low-maintenance living in an established community, and who see potential in personally finishing the basement to add both living space and value over time.
Frequently Asked Questions
1. Is the basement suitable for finishing?
Yes, the basement is described as "not renovated," meaning it is unfinished. This provides a clear opportunity for the new owner to customize the space to their needs, whether for additional bedrooms, a recreation room, or storage.
2. How does this home compare to others on the street?
This home is the newest on Namarik Way. However, at 1,510 sqft, it is smaller than the street average for comparable homes (1,767 sqft). This could mean a relative value opportunity or a more compact footprint, depending on a buyer's space requirements.
3. What does the sold price history indicate?
The home sold recently in August 2024 for between $455,000 and $485,000. This sale price is significantly higher than its current assessed value of $461,000, which is common for a recent sale before an assessment update. It indicates strong market interest at that time.
4. Is the property tax likely to increase?
Given that the recent sale price was higher than the current assessed value, a future municipal property assessment could result in a higher valuation and a subsequent increase in property taxes. Buyers should budget for this possibility.
5. What are the trade-offs of the lot size?
The land area of 3,779 sqft is manageable and average for the neighbourhood, but below the citywide average. This is ideal for minimal yard maintenance but may not suit those looking for extensive outdoor space, large gardens, or significant privacy from neighbours.