481 Gateway Road

Property Overview: 481 Gateway Road, Winnipeg

Key Characteristics & Appeal

This 1,152 sqft bungalow, built in 1966, presents a practical opportunity in the Munroe East neighbourhood. Its primary appeal lies in its efficient use of space; the living area is notably above average for both its immediate street and the wider Munroe East area, suggesting a well-utilized floor plan within a modest footprint. The assessed value is positioned below average for the broader city and area, which can indicate a more accessible entry point into the market.

The property sits on a 3,406 sqft lot, which is smaller than most comparables. This isn't necessarily a drawback—it translates to less yard maintenance, a potential benefit for those seeking a simpler, low-maintenance lifestyle. The home suits first-time buyers or downsizers looking for a manageable property without sacrificing interior space. Its "around average" metrics for year built and value on its specific street suggest it fits comfortably within its immediate block, offering neighbourhood consistency.

Frequently Asked Questions

1. What does the "below average" assessed value actually mean?
It indicates the city's assessment for this property is lower than most homes in Munroe East and Winnipeg overall. This often results in a relatively lower property tax bill, which is a tangible financial benefit, though the final sale price is determined by the market.

2. Is the smaller lot size a significant limitation?
It depends on your priorities. While it offers less space for extensive gardening or large outdoor structures, it requires less upkeep and landscaping cost. For many, this is a worthwhile trade-off for the above-average interior space.

3. How recent was the last sale, and what did it sell for?
The property sold between 2021 and 2025 for an estimated CA$250k–300k. For the precise sale price and date, you can request the exact history via email from the listing service.

4. How does this home compare to its direct neighbours?
The data shows it is very typical for its street in terms of age and assessed value. Its living space is larger than many on Gateway Road, while its lot is on the smaller side compared to neighbours.

5. What is the neighbourhood context of Munroe East like?
The provided comparison homes show a mix of older bungalows (like the 1956 reference home) and much newer builds (like the 2019 home). This suggests an established area with pockets of recent redevelopment, which can be a sign of a neighbourhood in steady demand.