Property Summary: 301 Patrick Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of modern convenience and established neighbourhood character. Its primary appeal lies in being a notably newer construction (built in 2019) within the mature Logan-C.P.R. area, offering move-in readiness amidst older housing stock. With 1,156 sqft of living space, it provides comfortable, average-sized accommodation for the local context.
The property’s standout feature is its exceptionally low municipal assessed value ($23,300), which ranks in the top 5% on its street. This suggests potentially favourable property tax obligations, a significant long-term financial consideration. However, this is balanced by a smaller, below-average lot size (1,682 sqft), indicating a more compact yard typical of newer infill development.
This home would suit first-time buyers or downsizers seeking a modern, low-maintenance home without leaving a central neighbourhood. It’s also a practical fit for value-focused investors or owners who prioritize interior space and newer systems over expansive outdoor space. The recent 2024 sale in the $200k-$250k range reflects its market position as a modernized entry point into the area.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value in Manitoba is primarily for tax purposes and is not intended to reflect market value. A very low assessment on a recently sold home can indicate significantly lower annual property taxes compared to similar-sized homes, which is a key financial advantage.
2. What does the smaller lot size mean for me?
It typically means less yard maintenance, which is a plus for those seeking a low-maintenance lifestyle. However, it may limit options for large additions, decks, or extensive gardening. The proximity to neighbouring houses will be closer than with older, larger lots in the area.
3. As a newer build in an older area, what should I consider?
You benefit from modern construction standards, insulation, and likely newer mechanical systems (furnace, wiring). It’s wise to research the builder’s reputation and understand any remaining warranty. Also, consider how the home’s style fits with the surrounding streetscape.
4. How does the living space compare practically?
At 1,156 sqft, the home is competitively sized for the immediate neighbourhood and offers more space than many century-home renovations. It’s well-suited for a small family, couple, or individual but may feel compact for those needing multiple large living areas or home offices.
5. What is the neighbourhood like?
Logan-C.P.R. is a central, established neighbourhood with a mix of older character homes and newer infill properties like this one. Its appeal includes proximity to downtown, The Forks, and major routes. As with any central area, researching specific street dynamics and nearby amenities is recommended.