124 Vanderbilt Drive

124 Vanderbilt Drive – Property Summary

Key Characteristics & Buyer Profile

This home sits on a notably large lot (9,392 sqft) in Whyte Ridge, placing it in the top 8% city-wide for land area. Built in 1997, it's newer than a significant share of Winnipeg housing stock. The living area is 1,660 sqft—modest for its street, where many homes are larger, but above the citywide median.

The property’s standout feature is its assessed value. At $866k, it ranks in the top 2% both in the neighbourhood and across Winnipeg, well above the local average of $529.6k. This indicates a home that is not just large on land, but also carries a high valuation relative to its physical footprint—likely due to finishes, location, or other quality factors not captured by square footage alone.

Appeal: This home offers a balance of newer construction, a generous lot, and strong value retention. It's not the biggest house on the block, but it competes on land and assessed worth.

Suitable for: Buyers who prioritize lot size and long-term value over raw interior square footage. It may appeal to families wanting outdoor space in an established neighbourhood, or investors looking at a home with above-average equity positioning.

Five Possible FAQs

1. Why is the assessed value so high compared to the living area?
Assessment reflects market value, which considers location, lot size, condition, and recent sales. In Whyte Ridge, land is a significant factor. This property's valuation suggests that the location, lot, and possibly interior quality push its worth well above the local median, even if the floor plan isn't the largest.

2. How does the lot size compare to other homes in Whyte Ridge?
It's well above average. The neighbourhood average land area is around 6,175 sqft, and this lot is over 9,300 sqft. That places it in the top 8% locally and city-wide, offering more yard space than most homes in the area.

3. Is the home considered small for its street?
Yes, in terms of living area. On Vanderbilt Drive, the average home is about 2,055 sqft, and this property is roughly 400 sqft smaller. However, that doesn't necessarily mean cramped—it depends on layout. The trade-off is a larger lot than most neighbours.

4. How does the year built affect insurance or maintenance?
Built in 1997, the home is about 28 years old. That typically means major systems (roof, furnace, windows) may be approaching or within their expected lifespan. Newer than much of Winnipeg's older housing stock, but not new enough to assume no updates are needed. A home inspection is advisable.

5. What does "Top 2%" for assessed value actually mean in practical terms?
It means the property is in the highest 2% of all homes in Winnipeg by assessed value. That often translates to higher property taxes, but also reflects strong market demand and potential for equity growth. It's worth noting that this rank also suggests the home may appeal to a smaller, more specific buyer pool.