184 Phoenix Way – Property Summary

Key Characteristics, Appeal & Ideal Buyer

This 2019-built home on Phoenix Way offers 1,261 sq ft of living space on a 2,572 sq ft lot. Its standout feature is clearly the build year: it ranks 1st out of 78 homes on the street and in the top 4% city-wide. In an area where the average home was built in 1966, that’s a meaningful advantage for someone who wants modern construction without compromising on location.

The trade-off is size. The living area and lot are both below the street and community averages. Locally, most homes are around 1,430–1,591 sq ft on larger plots. City-wide, the property sits close to the median for living space, but the lot falls in the bottom 6% – so outdoor space is limited. The assessed value reflects this: at $346,000, it’s below both the street ($377,000) and community ($443,000) averages, but close to the city median.

The appeal lies in getting a newer home in an older, established area, likely with fewer immediate maintenance concerns. It suits buyers who prioritize a modern interior and structure over square footage or a large yard – first-time homeowners, downsizers, or anyone looking for a low-upkeep property in a built-up neighbourhood. It’s less suited to those wanting a traditional family home with generous indoor and outdoor space.

Five Possible FAQs

1. How does the property compare to typical homes in the wider Winnipeg market?
It’s slightly below the city average for assessed value ($390,000) and land size (6,570 sq ft), but close to the median for living area. The build year puts it well ahead of most city homes – top 4% – which is the main upside.

2. Is the smaller lot size a concern for resale value?
Land tends to appreciate, and smaller lots can limit future buyers. However, in a street and community where lots are modest relative to city averages anyway, this home’s value is more tied to its modern structure. The lower assessment partly accounts for the lot; the key is whether future buyers in this area value new construction more than extra land.

3. Why is the assessed value below the community average despite being newly built?
The community average ($443,000) reflects older, larger homes on bigger lots. A smaller newer home in the same area can still appraise lower because total square footage and land drive assessed value more than age alone. The home is priced competitively for its size within a location that has pricier comparables.

4. What maintenance or renovation considerations come with a 2019 build?
Typically, very few. Roof, mechanicals, windows, and foundation are all recent. However, because the lot is small and the home is relatively new, be aware of long-term exterior space constraints – you won’t have room for major landscaping or expansions without affecting usable yard area.

5. Who is this home most suitable for – and who should look elsewhere?
It works best for buyers who want a move-in-ready, efficient home without the upkeep of an older property, especially if they’re comfortable with a compact yard. It’s less ideal for families needing multiple bedrooms or large indoor/outdoor areas, or for investors focused on land appreciation in a region with larger lots.