264 Nora Street

264 Nora Street – Property Summary

Key Characteristics & Buyer Profile

This is a newly built home (2020) on a modest lot in the West Alexander area of Winnipeg. Its standout feature is the house itself: among the newest properties on the street and in the neighbourhood, where most homes date from around 1919 to 1921. The living space is 963 square feet—smaller than the average for the street, the community, and the city—but the tax assessment is notably high for the area. On Nora Street, it has the highest assessed value. In West Alexander, it sits in the top 6%. That gap between a compact floor plan and a relatively high valuation is worth noting: it reflects the value placed on a modern build in an older neighbourhood, rather than square footage or land. The lot is 2,250 square feet, which is below average even for the street, so outdoor space is limited.

The appeal here is for someone who wants a newer, low-maintenance home without the premium of a large lot. It suits buyers who prioritise energy efficiency, modern construction, and a turnkey condition over space or a big yard. It could also work well for an investor or a downsizer looking to live close to the city core in a house that requires little immediate work. The high assessment relative to neighbours means property taxes will be higher than what other homes on the street pay, but for a 2020 build, that is typical.

Frequently Asked Questions

1. Why is the tax assessment so high compared to other homes on the street?
The 2020 build date is the main reason. Most homes on Nora Street are over a century old, so their assessed values are much lower. New construction is assessed at current market levels, while older homes may still reflect lower historical valuations. This also explains why the assessment is below the citywide average—many newer suburban homes with larger lots push the city average higher.

2. Is the living space too small for a family?
At 963 square feet, this would be tight for a family with children, especially if you need multiple bedrooms or dedicated play space. It's better suited for a couple, a single person, or someone who values location and a newer build over room size. The layout would be the key factor—without seeing it, the square footage suggests a compact two-bedroom or a small three-bedroom at most.

3. How does the lot size affect the property's value?
The 2,250 sqft lot is below average for the street and well below the city norm. That limits expansion options and outdoor use. For some buyers, this is a positive—less yard maintenance—but it also means less privacy and no room for additions like a garage or large deck. For resale, the small lot will likely cap the property's upside compared to homes with more land, even if the house is newer.

4. What does "top 3% in the city for build year" actually mean for living in the home?
It means this is one of the newer homes in Winnipeg, which translates to better insulation, modern building codes, newer mechanical systems, and likely lower utility bills compared to older stock. It also means less immediate repair or renovation work. The trade-off is that you're paying a premium for that newness in a neighbourhood where most homes are much older, so you're not getting the same "value" in terms of space or land that you might find elsewhere.

5. How does this property compare to a typical starter home in Winnipeg?
A typical starter home in Winnipeg might be older (1950s–70s), larger in living area, and on a bigger lot, but with outdated finishes and systems that need updating. This home flips that: smaller and on less land, but new and move-in ready. If your priority is a hassle-free purchase with no major renovations expected for the next decade, this makes sense. If you want room to grow or a large yard, you'll find more space for the same money elsewhere—but you'll be buying a house that's 50 to 100 years older.