Property Overview: 693 Denson Place, Winnipeg
Key Characteristics & Appeal
This home at 693 Denson Place in the Minto neighbourhood presents a compelling, data-driven value proposition. Built in 1994, it is a notably newer home compared to most in Winnipeg and stands out as elite for its age within its immediate area. With 1,123 sqft of living space, it offers roomy, modern accommodation that is squarely average for the street and neighbourhood, suggesting a comfortable fit without excess.
The primary appeal lies in its strong assessment value relative to its surroundings. The assessed value of $38,800 ranks in the top 2% for the Minto area, indicating it is perceived as a high-value property compared to its local peers. This, combined with its newer construction, points to a well-maintained or updated home in a community of generally older properties. The lot size is smaller than others on Denson Place but is above average for Minto, offering a practical yard with less maintenance.
This property would suit practical buyers looking for a modernized home in an established neighbourhood without a premium price tag. It’s ideal for first-time homeowners or downsizers who prioritize a newer build (avoiding major systemic age-related repairs) and solid value retention within their community. It may also attract investors focused on the Minto area who recognize the advantage of a property that outperforms its local market in key metrics.
Frequently Asked Questions
1. How does the sold price from 2022 relate to the current assessed value?
The home sold for an estimated $350k–$400k in 2022. Its current assessed value for tax purposes is significantly lower at $38,800. It’s important to understand that municipal assessed value is not market value; it is a standardized figure used for calculating property taxes and often lags behind actual sale prices.
2. What does the "elite" ranking for year built actually mean for me?
Being in the top 2-3% for year built in Minto means this 1994 home is among the very newest in a neighbourhood with many heritage properties. For you, this likely translates to newer major components (like roofing, wiring, and plumbing) compared to neighbours, potentially resulting in lower near-term repair costs and modern living standards.
3. The lot is smaller than others on the street. Is that a major drawback?
While the lot is below average for Denson Place, it is still above average for the wider Minto area. This suggests a balanced trade-off: you get a manageable yard with lower maintenance, while still having more outdoor space than many typical lots in the neighbourhood.
4. The assessed value is in the top 2% for Minto. Will my property taxes be much higher?
Not necessarily. Property taxes are based on the mill rate applied to your assessed value. While a higher assessment is a factor, it indicates the city views this property as a high-value asset within Minto. Your taxes would be higher than a home with a $25k assessment on the same street, but Minto’s mill rate and overall values mean taxes are likely still reasonable compared to newer suburban areas.
5. Who are the immediate neighbours, and what are their homes like?
The five closest properties are all on Denson Place, with the two nearest just 11 meters away. The provided comparable at 635 Ashburn Street (built 1910, 1,160 sqft, assessed at $27.50k) offers a useful contrast, highlighting how this 1994 home represents a more modern option with a higher valuation on a street with a mix of eras.