29 Lyra Gate

29 Lyra Gate – Property Summary

Section 1: Key Characteristics & Buyer Profile

This is a 2018-built home with 1,296 square feet of living space on a 1,930-square-foot lot. The assessed value is $339,000.

The property's strongest feature is its age. Built in 2018, it ranks in the top 5% on its street and the top 4% citywide—a significant advantage in Winnipeg, where the average home was built in 1966. This means newer construction, better insulation, and likely fewer immediate repair concerns than most properties in the city.

The assessed value sits slightly above the street average ($329,400) but well below the neighborhood average ($442,900). This gap reflects something worth noting: the home is in a neighborhood (West Kildonan Industrial) where many properties are larger or more expensive, but this particular house is more modest in both size and price. The land area is also small—below average at every geographic level, and in the bottom 1% citywide. Buyers should expect a compact lot with limited outdoor space.

The living area is roughly in line with city averages, slightly above the street average but below the broader neighborhood. This is not a spacious family home, but it is not unusually small either.

Who it suits: First-time buyers looking for a newer, lower-maintenance home who do not need a large yard. Also suitable for someone downsizing from an older, larger property who wants something modern without moving to a far suburb. Less ideal for buyers who prioritize outdoor space or are expecting room to expand.

Section 2: Five Possible FAQs

1. How does this home's assessed value compare to others nearby?
It is slightly above the street average ($329,400) but significantly below the neighborhood average ($442,900). The neighborhood figure is pulled higher by larger or more expensive homes nearby, so this property represents a more affordable option within that area.

2. Is the small land area a concern?
It depends on your needs. At 1,930 square feet, the lot is in the bottom 1% citywide and well below the neighborhood average of 3,839 square feet. That said, a smaller lot means less yard maintenance. If you value outdoor space or gardening, this may feel tight.

3. Why does the home rank so much better on the street than in the neighborhood?
The street (Lyra Gate) consists of homes built around the same time—2018 is the average there. But the broader West Kildonan Industrial neighborhood includes many newer homes built as recently as 2021, which pushes down this property's rank. So while it is one of the newest homes on its street, it is not as new relative to the wider area.

4. What does "top 4% citywide for year built" actually mean?
Out of nearly 195,000 comparable homes in Winnipeg, only about 8,400 are newer than this one. That puts it ahead of 96% of the city's housing stock by age. For a city with a very old average home age (1966), that is a meaningful advantage in terms of energy efficiency, mechanical systems, and modern layout.

5. How was the assessed value of $339,000 determined?
Assessments are based on market value as of a specific date, using recent sales of comparable properties. The home's newer construction likely supports its value, while the small lot and modest living area keep it below pricier neighbors. Note that assessed value is not always identical to current market price—it is a baseline used for property tax calculations.