Property Summary: 553 North Point Boulevard
Key Characteristics & Buyer Fit
This is a 2023-built home with 1,389 square feet of living space on a 3,069-square-foot lot. Its assessed value is $432,000.
The property’s standout feature is its age. City-wide, it ranks in the top 1% for newer construction—most Winnipeg homes were built in 1966. On its own street, it’s among the top 8% by assessed value, suggesting it’s one of the more desirable addresses in the immediate area.
The living area is around average for its street, neighbourhood, and city, while the lot size is generous for the street but small by city-wide standards. This means you’re getting a newer house on a compact urban lot, not a sprawling yard.
Where the appeal lies: The main draw is moving into a nearly brand-new home without waiting for construction. You avoid the unknowns of an older house: foundation shifts, old wiring, or asbestos. The year-built ranking also hints at strong resale potential—newer homes often hold value better in established neighbourhoods.
Best suited for: Buyers who want modern finishes and low immediate maintenance, especially first-time homeowners or those downsizing from a larger property. It’s less ideal for someone needing a big yard or garden space, or for buyers who prefer character homes in older parts of the city.
Frequently Asked Questions
1. How does this home compare to others on the street?
It’s one of the most valuable homes on North Point Boulevard (top 8%) and has a larger-than-average lot (top 8%). The living area is about average for the street. So you’re paying for good land and a newer build, not excessive square footage.
2. Is the assessed value of $432k a realistic price?
The assessed value is a public estimate, not a market price. It ranks well above the street average ($375k) but below the neighbourhood average ($442k). This suggests the home is priced competitively for its immediate area, but you should still check recent sales of similar properties.
3. Why is the land area considered “below average” city-wide?
Winnipeg includes many older homes on large lots, often 5,000–10,000 square feet or more. At 3,069 sqft, this lot is typical for newer infill builds but small compared to the city’s historic stock. That’s normal for a modern home in an established area.
4. What does “top 1%” for year built actually mean?
Only about 1,300 homes out of nearly 200,000 in Winnipeg are newer than this one. Built in 2023, it’s effectively brand new. That’s unusual in a city where most housing stock is over 50 years old.
5. Should I be concerned about the neighbourhood ranking for living area (top 68%)?
No—it just means the home is slightly smaller than the neighbourhood average of 1,591 sqft. That’s typical for a newer build on a smaller lot. The ranking matters less than whether the layout works for your needs.