Property Overview
This 2024-built home at 76 Regal Avenue offers a modern living experience within an established Winnipeg neighbourhood. Its primary appeal lies in the combination of new construction and generous interior space, set against a more compact lot.
Key Characteristics & Ideal Buyer
The home’s standout feature is its modern build date (2024), placing it in the top 1% of homes city-wide for newness. It pairs this with a spacious 1,606 sqft living area, which ranks in the top 5-7% within its immediate street and neighbourhood, offering significantly more interior room than local averages. This creates a practical dynamic: you gain a modern, low-maintenance home with ample living space, while the lot size is more efficient and manageable compared to older properties in the area.
The assessed value of $568k reflects this premium, ranking well above averages at every level. This property would suit buyers who prioritize move-in-ready, modern construction and interior square footage over a large yard. It’s an ideal fit for professionals, small families, or downsizers seeking a new home without leaving a mature community, and who prefer spending less time on exterior maintenance.
Frequently Asked Questions
Q: The lot size is noted as below average. How does this impact the property?
A: It results in a lower-maintenance yard, which many modern buyers appreciate. The trade-off is that the significant interior space was prioritized over land. It’s typical for newer infill homes in established areas to have this efficient footprint.
Q: The assessed value is much higher than the street and neighbourhood averages. Why?
A: The assessment directly reflects the home’s new construction and large living area. You are paying a premium for a modern asset in an older area, which is common for recent builds. It’s a different product compared to the surrounding, mostly mid-20th century homes.
Q: What does the "top 1%" ranking for year built actually mean?
A: It means that out of nearly 200,000 comparable homes in Winnipeg, only about 1% are as new or newer. On Regal Avenue, it is the newest home in the data set. This translates to modern building codes, materials, and systems, likely leading to energy efficiency and minimal immediate repair needs.
Q: Is the high assessed value a concern for property taxes?
A: Typically, yes. A higher assessed value generally leads to a higher property tax bill compared to older homes in the same area. It’s advisable to budget for this accordingly.
Q: Who might this property not suit?
A: It may not suit buyers seeking a large, traditional yard for gardening or recreation, or those looking for the character and established landscaping of an older home. Value-seeking buyers comparing it to larger lots with older houses at similar prices might find the lot size a drawback.