120 Monticello Road: Property Summary
Key Characteristics & Buyer Profile
This is a 1,222 sqft single-family home built in 1991 on a 5,862 sqft lot in Whyte Ridge, Winnipeg. Its assessed value is $493,000.
The property sits on a street where homes are generally older and smaller, but it stands out locally: it ranks 5th out of 56 homes on Monticello Road for year built (top 9%), meaning it's one of the newer houses on the block. The lot is also above the street average, ranked 14th. The living area, however, is below both the street and neighbourhood averages—this is a more compact footprint compared to its immediate neighbours.
The main appeal here is the land-to-house ratio. You get a relatively generous lot with a newer home that's slightly smaller than what's typical nearby, which could appeal to buyers who value outdoor space and a modern build over square footage. It's also interesting citywide: the home ranks in the top 21% for assessed value but only top 48% for living area. That gap often signals a location premium or desirable finishes, rather than sheer size.
This property would suit: first-time buyers looking for a newer home on a good lot without paying for maximum interior space, or downsizers from larger suburban homes who want a manageable floor plan with room to garden or build a shop. It's less ideal for a family who needs a lot of indoor square footage or for an investor focused on price-per-square-foot metrics.
Frequently Asked Questions
1. How does the assessed value relate to the market price?
The assessed value is $493,000, which is below the street average ($506k) and neighbourhood average ($530k), but well above the citywide average ($390k). This suggests the property is priced in line with its immediate street context, not inflated. The ranking (top 77% on the street) indicates it's one of the more modestly valued homes on Monticello Road, which could mean it's a relative value play in a higher-priced area.
2. Is the small living area a problem for resale?
It could be, if the next buyer prioritizes interior space. But the combination of a newer home (1991) and a larger lot often compensates—many buyers in Whyte Ridge are looking for more land, not more house. The citywide average living area is actually only 1,342 sqft, so this home is only 120 sqft smaller than average across comparable homes in Winnipeg.
3. What is the land actually used for?
The lot is 5,862 sqft—larger than most on the street (top 25%) but slightly smaller than the neighbourhood average of 6,175 sqft. That's a generous suburban lot. Given the home's footprint, there's likely room for a sizable backyard, a garden, a deck, or possibly a garage addition, depending on zoning. Buyers should verify setbacks and easements before planning anything.
4. How does the year built affect maintenance expectations?
Built in 1991, this home is now over 30 years old. While it's newer than most homes on its street (median build is 1990), it's right around the neighbourhood median (1994). Buyers should anticipate typical mid-1990s home wear: roof or siding nearing end of life, original windows, and aging mechanicals. The good news is that it's not an older home with knob-and-tube wiring or lead pipes.
5. Why does the citywide ranking for assessed value jump to top 21%?
That's the most telling metric. Citywide, this home is valued higher than 79% of comparable properties, despite being only average in size. This usually reflects a strong neighbourhood reputation, proximity to amenities, or desirable zoning. Buyers should consider whether they're paying for the area's prestige rather than the house itself—and whether that premium will hold when reselling.