Property Overview: 2 Prevette Street, Winnipeg
Key Characteristics & Appeal
This home presents a practical opportunity in Winnipeg's Munroe East neighbourhood. Built in 1971, it is notably newer than most on its street and in the immediate area, which can suggest updated building materials and systems compared to older peers. The 988 sqft living space is typical for the local area, offering a manageable layout for everyday living.
The property’s standout feature is its generous 5,698 sqft lot, which ranks well above average for both the street and the neighbourhood. This offers valuable outdoor space and potential not found in many comparable listings. Recent sale history indicates steady market activity.
Its appeal lies in its balance of a newer construction date within a mature area and a larger-than-average yard. It would suit first-time buyers seeking a solid starter home with room to grow outdoors, or practical investors looking for a property with a stable history in a consistent neighbourhood. It’s a home that offers more in terms of land than interior size, pointing toward a value based on outdoor space and relative modernity within its specific context.
Frequently Asked Questions
1. How does the 1971 build date affect this home?
Being one of the newest homes on the street (top 3%) is a positive, potentially meaning fewer major age-related concerns than neighbours. However, a 55-year-old home will still require a thorough inspection of its roof, windows, and mechanical systems.
2. The assessed value seems low compared to recent sale prices. Why?
Municipal assessed value (listed as $31,300) is for tax purposes and is typically much lower than market value. The recent sale price range (2024: $300k-$350k) is the relevant figure for current market value.
3. Is the living space small?
At 988 sqft, it is slightly below the city-wide average but is very typical for both Prevette Street and the Munroe East area. It represents a compact, efficient footprint.
4. What is the significance of the large lot size?
The lot is a key asset, ranking in the top 20% for the neighbourhood. It provides ample yard space, greater privacy, and future potential for additions, gardens, or outdoor living areas that are harder to find in this price segment.
5. What do the past sale prices indicate?
The home sold in 2020 and again in 2024, showing active market interest. The increase in sale price range over those four years aligns with broader market trends, suggesting the property has maintained its marketability.