555 Gateway Road

Property Overview

This home at 555 Gateway Road in Winnipeg's Munroe East neighborhood presents a distinct profile. Built in 2013, it is a notably modern property in an area where most homes are decades older, ranking in the top 1-4% for its newness locally. With 1,360 sqft of living space, it offers above-average interior room for both its immediate street and the broader Munroe East area. The assessed value of $35.80k positions it as an elite-level property within the neighborhood context.

Its primary appeal lies in this combination of modern construction and efficient use of space within a well-established community. Buyers get a contemporary home that likely requires less immediate upkeep than older stock, without the premium lot size typically associated with newer builds. The trade-off is a compact, below-average lot size of 2,684 sqft, which is a consistent feature across all comparison levels.

This property would best suit buyers who prioritize a modern, low-maintenance home in a mature neighborhood and value interior space over a large yard. It’s ideal for professionals, small families, or downsizers seeking a newer build without venturing to the outer suburbs. It may be less suitable for those who desire extensive outdoor space for gardening or recreation.

Frequently Asked Questions

1. How does the lot size impact the property?
The lot is significantly smaller than area averages. This means lower exterior maintenance but also limited private outdoor space. It’s a efficient, low-yard lifestyle choice.

2. Why is the assessed value so much lower than the city-wide average for comparable homes?
The "comparable group" city-wide includes homes of similar assessed value, not similar size or age. This $35.80k assessment is actually elite for Munroe East, reflecting the neighborhood's overall market values compared to the entire city.

3. What does the sold price history indicate?
The home sold between $250k-$300k in 2019. This past sale, ranking in the top third for the street, suggests it has commanded a solid value relative to its older neighbors.

4. Is this a good option for someone wanting a new home in an old neighborhood?
Yes, that’s its standout feature. It ranks in the top 1% for year built in Munroe East, offering modern systems and layout in a settled area, which is a rare find.

5. How does the living area compare practically?
At 1,360 sqft, it offers more interior space than most homes on its street and in Munroe East. However, it is slightly below the city-wide average for homes of similar assessed value, indicating you are paying a premium for the modern build and neighborhood location rather than maximum square footage.