1-509 Academy Road – Property Summary
Key Characteristics & Buyer Profile
This is a single-family home built in 2023, with 1,363 square feet of living space and an assessed value of $425,000. It sits on Academy Road in the Wellington Crescent neighborhood of Winnipeg.
The property’s strongest differentiator is its age. It’s the newest home on its street and in its immediate area, and ranks in the top 1% citywide for year built. For buyers who want a newer build without the wait or uncertainty of construction, this is a notable edge. The living space is slightly below the street and neighborhood averages (1,675 and 1,781 sqft, respectively), but well above the citywide average for comparable homes (1,042 sqft). Similarly, the assessed value is below local medians but well above the citywide average.
The appeal here is a trade-off. You get a very new house in an established, likely desirable neighborhood, with a size and value that sit modestly below nearby older homes. This might suit buyers who prioritize a modern build—lower maintenance, better energy efficiency, current finishes—over maximum square footage or the highest value per dollar on the street. It could also appeal to someone downsizing within the area or entering a higher-price-point neighborhood at a slightly lower entry point than many surrounding properties.
Five Possible FAQs
1. How does this home's size compare to typical houses in the neighborhood?
It's slightly smaller than average for Academy Road and the Wellington Crescent area. The average home on this street is about 1,675 sqft; this one is 1,363 sqft. However, it's significantly larger than the typical comparable home citywide (1,042 sqft).
2. The property is newer than almost everything nearby. Does that affect the assessed value?
In this case, being newer doesn't mean a higher assessed value relative to the street. The home's $425,000 assessment is below the street average of $484,300 and the neighborhood average of $503,700. New construction can have a higher cost per square foot, but the smaller size here likely balances that out.
3. What does "Top 1% citywide for year built" actually mean?
It means that out of over 26,800 comparable homes in Winnipeg, only about 379 are newer than this one. It's a very strong ranking, reflecting the rarity of a home built in 2023 in any established area, let alone one with older housing stock like much of Wellington Crescent.
4. Is the assessed value of $425,000 a reliable guide to market price?
Assessed value is used for property tax calculation, not a direct market valuation. It's useful for relative comparisons—this home is valued lower than its street and neighborhood averages, which could suggest it’s priced conservatively or reflects its smaller size. A real estate agent would need to factor in current market conditions, recent sales, and the premium (if any) for new construction.
5. What does "comparable homes" mean in the rankings?
The data compares this property to other single-family homes within the same street, neighborhood, and city. The "averages" are rough medians for homes considered comparable—likely similar in type and use, not including condos or commercial properties. The rankings show how this home stacks up specifically within those groups.