56 Libra Street

Key Characteristics & Appeal

This is a 2020-built home with 1,213 square feet of living space, sitting on a 2,556-square-foot lot in the West Kildonan Industrial area of Winnipeg. The numbers tell a fairly straightforward story: it's a newer build in an older city—its construction year ranks in the top 3% citywide, where the average home was built in 1966. But the property is on the smaller side for its street and neighbourhood, with both living area and land below local averages. The assessed value (used for property tax calculations) is $360,000, which is slightly below the street average of $377,000 and notably under the community average of $443,000.

The appeal here is less about standout size or yard space and more about condition and relative affordability within a newer home category. Buyers who want a modern build—efficient systems, contemporary finishes, less immediate maintenance—but who are willing to accept a compact lot and a floor plan that's modest by local standards will find this worth a look. It's also positioned below the typical tax assessment for the area, which could mean a lower property tax bill compared to older, higher-valued homes nearby. This property would suit first-time buyers, downsizers, or anyone prioritizing a move-in-ready newer home over square footage or a large yard. It's less suited to those looking for space to expand or a property that outshines its neighbours in size or land.

Five Possible FAQs

1. How does the property tax compare to other homes in the neighbourhood?
The assessed value is $360,000, which is below the community average of $443,000 and the street average of $377,000. Since property taxes are based on assessed value, you'd likely pay less in taxes than the owners of many older or larger homes nearby.

2. Is the smaller lot size a concern for resale?
It depends on the buyer pool. The lot is 2,556 sq ft, which ranks in the bottom 13% on the street and bottom 6% citywide. For buyers who want a low-maintenance yard or aren't interested in gardening or expansion, it's fine. But if you're hoping the land itself will appreciate significantly, this property's advantage is more in the building than the lot.

3. What's the condition of the home given it was built in 2020?
The home is roughly four to five years old, so major systems (roof, mechanicals, windows) should be in good shape. Standard new-home warranties may have expired depending on the province and builder, so it's worth checking specifics. But generally, you'd be looking at less immediate repair work than a home from the 1960s or 1970s.

4. How does this home compare to others on Libra Street?
It's on the smaller side for both living area and lot size, ranking 43rd out of 46 homes on the street for living space and 40th for land. The assessed value is also below the street average. So it's not a standout in size or value on the block, but it is one of the newer homes.

5. Is the "below average" ranking a red flag?
Not necessarily. The rankings compare this home to everything in the area, including older, larger homes on bigger lots. Being below average on size is expected for a newer infill or compact build. The trade-off is a newer structure with likely better energy efficiency and fewer repairs. The question is whether that trade-off matches your priorities.