Property Overview: 1-118 Wilmot Place, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 1-118 Wilmot Place in the Mcmillan neighbourhood stands out for its above-average size and modern construction relative to its immediate area. Built in 2008, it is notably newer than most homes on its street and in the broader neighbourhood, potentially offering advantages in building systems and maintenance. With nearly 1,950 square feet of living space, it provides significantly more room than the average Winnipeg home and is among the largest on Wilmot Place.
The appeal lies in this combination of space and contemporary build within an established area. It suits buyers looking for a move-in ready property without the character-home maintenance that is common in Mcmillan. The assessed value is high for the area, which typically reflects the property's size, condition, and recent build year, but also suggests municipal taxes will be correspondingly higher. This property would best suit a buyer who prioritizes interior space and modern amenities over a historic character home, and who values a position that ranks highly in direct local comparisons.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to nearby sales?
Based on public data, this property sold in the range of $450,000 to $500,000 in 2022. Its current assessed value for tax purposes is $48,200. It’s important to note that assessed value is not market value; consulting a real estate professional for a current market analysis is recommended.
2. What does its "Elite" ranking for living area mean?
The rankings show this home is in the top 4% for size on Wilmot Place (1st out of 24 comparable homes) and the top 2% in the Mcmillan neighbourhood. Simply put, it is significantly larger than most homes directly around it.
3. Are there other similar units in the building?
The listing shows several nearby addresses at "118 Wilmot Place" with different unit prefixes (e.g., 2-118, 3-118, 4-118), indicating this is likely a condominium or townhouse complex. Reviewing the condo corporation's financial and governance documents is a crucial due diligence step.
4. Why is the assessed value so much higher than some nearby homes?
The $48,200 assessment is notably higher than many neighbouring properties, including some larger historic homes. This is likely due to the combination of its large square footage, its relatively new construction (2008), and its modern condition, all of which are key factors in municipal assessment models.
5. How can I find out the exact past sale price?
The provider offers a manual service to share the exact historical sale price. You can submit your email address via the form on the listing page to request this information, which they aim to provide by the end of the same business day.