72 Libra Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,386 sqft home built in 2021, making it one of the newest houses on Libra Street—ranked #1 out of 46 for year built (top 2% citywide). The living area is around average for the street and neighborhood, but slightly above the citywide median for comparable homes. The assessed value of $359k sits below both the street and neighborhood averages, which may reflect the smaller land parcel (2,556 sqft) more than the condition or finish of the structure itself. The lot is notably smaller than typical for the area—ranked in the bottom 13% on the street and bottom 6% citywide.
The appeal here is straightforward: a modern, recently built home in a market where the median year built is 1966. You're getting a contemporary floor plan and newer systems without paying a premium for land you won't use. This property would suit buyers who prioritize a move-in-ready, low-maintenance home over yard space or future expansion potential. It's also a reasonable option for someone who wants to be in a stable, built-out neighborhood (West Kildonan Industrial) without competing for the most expensive properties on the block.
Frequently Asked Questions
1. How does the assessed value compare to similar newer homes in the area?
The assessed value is below both the street and neighborhood averages, which is unusual for a home built in 2021. The main reason is the small lot: land area is the biggest driver of assessed value in this comparison, and this property has significantly less land than most nearby homes. The structure itself is likely valued competitively for its age and size.
2. Is the smaller lot a disadvantage for resale?
It depends on the buyer pool. Families looking for gardens, sheds, or room for additions will likely pass. But for condo downsizers, first-time buyers, or anyone wanting minimal outdoor upkeep, a small lot is a feature, not a drawback. The property is already ranked well for living space relative to its price, so the trade-off is clear.
3. Why is the living area only "around average" if the home is brand new?
New construction in this price range tends to follow standard floor plan sizes. At 1,386 sqft, it lands in the middle of the pack for the street—not unusually large or small. Many older homes in the neighborhood are actually bigger (the neighborhood average is 1,591 sqft), so the novelty here is the age and condition, not the square footage.
4. What does "Top 2% citywide" for year built actually mean in practical terms?
It means this home is newer than roughly 190,000 other properties in Winnipeg. You're unlikely to find significant structural or mechanical issues common in homes from the 1960s or earlier. It also means the home likely meets modern energy and building codes, which can mean lower utility and insurance costs compared to much older stock.
5. How does this property compare to others on Libra Street specifically?
It's the newest house on the street and priced below the street average, largely because of the smaller lot. Most homes on Libra Street have larger land parcels and were built between 2019 and 2021. If you're looking at neighbors, you'll get a similar living space and newer construction for a lower assessed value—but with less yard.