Property Overview
This two-storey home on a large lot in Ridgewood South presents a specific and appealing value proposition. Built in 2017, it offers modern construction in a well-established neighbourhood. Its key appeal lies in the combination of a newer, low-maintenance structure with a generous, private land area that is rare for homes of this vintage in the area. The home suits first-time buyers or downsizers seeking a move-in-ready property without the concerns of aging infrastructure, and who prioritize outdoor space over a maximized interior footprint. It’s also a pragmatic choice for value-focused buyers, as the sold price from 2023 sits significantly above the current assessed value, suggesting potential for equity growth as assessments catch up to market trends.
A less obvious perspective is its positioning within the street itself. The data indicates it is among the newest homes on the block, meaning you benefit from modern building standards while being surrounded by mature landscaping and an established community feel. Additionally, while the basement is unrenovated, it presents a clean slate for future customization, adding potential value for a buyer willing to undertake a project down the line.
Frequently Asked Questions
Q: How does the lot size compare to typical properties?
A: Very favorably. The land area of 3,665 sq ft ranks in the top 10% on its own street and the top 1% within the wider Ridgewood South neighbourhood, offering exceptional outdoor space for a home built in 2017.
Q: Is the price fair given the assessed value?
A: The assessed value is currently $40.9k, but the home sold for $354.3k in June 2023. This discrepancy is common and often indicates the municipal assessment hasn't yet caught up to the recent market value. The prior sale price is a more current benchmark.
Q: What is the neighbourhood like?
A: Ridgewood South is a mature, family-friendly neighbourhood in Winnipeg. The listing shows several comparable, newer homes in the same area, indicating it's a sought-after pocket for modern infill development.
Q: What should I know about the basement?
A: The basement is described as "not renovated." It is a full, unfinished space, which provides flexible storage or future living area potential but would require investment to finish.
Q: How does the living space compare to nearby newer homes?
A: At 1,592 sq ft, the living area is functional but modest compared to some newer builds in the area, which can exceed 2,000 sq ft. This reflects a trade-off: you gain a larger lot and a newer home, but not necessarily the largest floor plan on the block.