76 Libra Street – Property Summary
Key Characteristics & Buyer Profile
This is a newer home in Winnipeg, built in 2021, which puts it in the top 2% citywide for construction year—an uncommon find in an area where the average home dates to 1966. The living area is 1,386 square feet, which is slightly below the neighborhood average (1,591 sqft) but above the citywide average for comparable homes (1,342 sqft). The lot is modest at 2,556 square feet, ranking in the bottom 6% citywide, so outdoor space is limited relative to typical Winnipeg properties.
The assessed value is $359,000, which is below both the street average ($377,300) and the neighborhood average ($442,900), but sits right around the citywide median. This suggests the property is priced competitively for its size and age, especially when compared to older, larger homes in West Kildonan Industrial.
The appeal here is straightforward: you get a recently built home without the premium typically attached to new construction. The trade-off is a smaller lot and slightly less living space than some neighbors, but the build quality and efficiency of a 2021 home may offset that. This property would suit buyers who prioritize a move-in-ready, low-maintenance home over a large yard or historic character. It’s also a strong fit for first-time buyers or those looking to avoid major renovations, as the home is essentially new.
Five Possible FAQs
1. How does the lot size affect daily use?
The lot is 2,556 sqft, which is small by Winnipeg standards. Expect a modest backyard, limited space for gardens or large sheds, and less privacy from neighbors. If you want a big lawn or room for kids to run, this may feel tight.
2. Is the assessed value a reliable indicator of market price?
Assessed value ($359K) is a government estimate for tax purposes, not a market appraisal. It can lag behind actual sale prices. Given the home’s new construction and below-average assessment on the street, it may list higher or lower depending on demand and recent comparable sales.
3. How does the age of the home compare to others nearby?
This home is among the newest on Libra Street—ranked #1 out of 46 homes. Many surrounding properties are from the 1960s or earlier, so you’re getting modern building standards, better insulation, and likely fewer immediate repair needs. However, the neighborhood character may feel established rather than newly developed.
4. What’s the neighborhood like in terms of value retention?
West Kildonan Industrial is a mixed-use area with industrial and residential properties. Homes here have below-average assessed values compared to the city overall. That can mean slower appreciation, but also more affordable entry. The new build may hold value better than older homes, but it’s not a high-demand luxury corridor.
5. Are there any hidden costs with a newer home in an older area?
Newer construction often means lower utility bills and fewer repairs early on. But check if the property has HOA or condo fees (not mentioned here), and be aware that the surrounding infrastructure—roads, sewers, schools—may be older and subject to municipal levies. Also, a small lot means less maintenance, but also less room for expansion.