Property Overview: 306 Philip Lee Drive, Winnipeg
Key Characteristics & Appeal
This well-situated home at 306 Philip Lee Drive presents a compelling blend of modern build quality and established neighborhood value. Built in 2017, the property is notably newer than the vast majority of Winnipeg homes, placing it in the top 5% city-wide for age. This translates to less immediate concern for major system replacements and likely modern building standards.
The 1,405 sqft living area is comfortably sized, ranking around the middle for its immediate street and the broader Peguis area. Its true standout features are its assessed value and lot size within the community. With an assessed value of $533,000, it sits above average for both Peguis and Winnipeg overall, suggesting a perception of solid value. The 6,071 sqft lot is notably larger than many in Peguis, offering above-average outdoor space.
The home’s appeal lies in its balance. It’s not the largest or most expensive on the block, but it holds a strong, above-average position in the wider market. It suits buyers looking for a relatively new construction home in a mature neighborhood, who prioritize a generous lot and a property that has demonstrated value growth since its last sale in 2017. It would particularly suit a young family or professional couple seeking a move-in ready home with room to grow outdoors, without the premium of a brand-new subdivision.
Frequently Asked Questions
1. How does the sold price compare to the assessed value?
The home sold in October 2024 for an estimated $550,000-$600,000. This sale price ranked in the top 10% city-wide, significantly higher than its assessed value ranking, indicating strong market demand at the time of sale.
2. Is the lot size typical for the area?
The lot is above average for the Peguis area, ranking in the top 19%. This means you’re getting more outdoor space than most properties in the immediate community.
3. What does the "Elite" ranking for year built mean?
This indicates the home, built in 2017, is newer than approximately 95% of all residential properties in Winnipeg. You are buying a modern structure in a city with many older homes.
4. Has the property appreciated in value?
Yes. Previous sale data shows it sold for between $350,000-$400,000 in May 2017, shortly after being built. The 2024 sale price represents a significant increase over that seven-year period.
5. Where can I see more detailed comparisons with neighboring properties?
A dedicated neighbourhood analysis page is available to map this home alongside nearby houses, allowing for detailed comparison of year built, living area, assessed value, and lot size.