510 Tyson Trail

Property Overview: 510 Tyson Trail, Winnipeg

Key Characteristics & Appeal

This 2021-built home in the Peguis neighborhood offers a modern, low-maintenance living option within Winnipeg. Its primary appeal lies in being a contemporary property in a newer development area, requiring minimal immediate upkeep. At 1,332 sqft, the living space is slightly below average for its immediate street and neighborhood but aligns closely with the citywide average, suggesting a efficient, manageable layout for a smaller household or first-time buyer.

The data presents a nuanced value picture. The home’s assessed value ($393k) is notably below the averages for both Tyson Trail and the wider Peguis area, which could indicate a relative value opportunity within this specific market. However, it sits right at the Winnipeg average for comparable homes. The lot size is compact (3,309 sqft), consistent with newer subdivisions, which reduces yard work but offers less private outdoor space.

This property would suit buyers prioritizing a modern build year (top 2% city-wide) without the premium price tag of the newest constructions on the street. It’s a practical fit for first-time homeowners, small families, or downsizers seeking a turn-key home in a developing community, who are comfortable with a smaller lot and see advantage in a below-average assessment within an area of generally higher-valued properties.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbors?
While the assessed value is below the street and neighborhood averages, it is consistent with the Winnipeg-wide average. This can sometimes occur with slightly smaller homes on compact lots in newer areas where recent builds have larger footprints. It’s a key point for discussion with your real estate agent regarding market valuation.

2. How does the smaller lot size impact daily living?
The lot is below average for the area, which means less yard maintenance and lower associated costs. The trade-off is limited space for gardening, expansive outdoor recreation, or future additions like a large deck or shed. It emphasizes low-maintenance, indoor living.

3. The home sold in 2021. What can that price history tell me?
The previous sale price (listed in a range) provides a historical benchmark. Comparing that 2021 price to the current assessed value and recent area sales can help gauge market appreciation. For exact sale figures, you can request the details via email from the site.

4. Is the living area too small?
At 1,332 sqft, it is smaller than many homes on Tyson Trail and in Peguis, but is typical for Winnipeg overall. It depends on your needs. It’s likely efficient for 1-3 people but may feel compact for a larger family, especially compared to nearby reference properties with 1,600+ sqft.

5. What are the benefits of a 2021 build?
A home built just 5 years ago likely has modern building codes, energy efficiency standards, and warranties that may still be partially transferable. It should require minimal major repairs in the near term, a significant advantage over the city’s much older average home (1966).