3 Vanderbilt Drive – Property Summary
Key Characteristics & Buyer Profile
This 1,587 sqft home, built in 1992, sits on a 7,619 sqft lot in Winnipeg’s Whyte Ridge neighbourhood. Its most notable feature is the land. City-wide, the lot ranks in the top 13% for size, and within the neighbourhood it’s in the top 15%—meaning you get significantly more outdoor space than most nearby homes. The living area, however, is a clear trade-off. It’s below average for the street (which skews toward larger homes around 2,000+ sqft) and only around average for the neighbourhood. City-wide, the living area is above average, but that’s more a reflection of Winnipeg’s older, smaller housing stock than a statement about this home’s interior size.
The assessed value tells a similar story. At $478,000, it sits well below the street average of $723,600 and below the neighbourhood average of $529,600. But compared to the city as a whole, it ranks in the top 23%—an indication that while this home may be a relative bargain on its own street, it’s not a cheap property by broader city standards.
What’s less obvious is what this combination really means. Many homes on Vanderbilt Drive are likely newer and larger, pushing up the street’s averages. This property’s lower assessed value and smaller living area relative to the street suggest it may be one of the more modest homes in a higher-value area. That can be appealing if you want a better location or a bigger lot without paying for square footage you don’t need. It also means the home might offer room for sweat equity or a renovation project, since the land itself is strong. The target buyer is someone who values outdoor space and a good neighbourhood over a large interior, or someone looking for a property with upside potential in a well-ranked area.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
It’s smaller than most homes on the same street (bottom 6%), but about average for the broader Whyte Ridge neighbourhood. City-wide, it’s above average in living area, though that’s partly because many Winnipeg homes are older and smaller.
2. Is the assessed value low because the home needs work?
Not necessarily. The assessed value is below the street and neighbourhood averages, but the home is 33 years old—newer than the city median (1966) but slightly older than the street average (1996). The lower value could reflect a smaller living area, less recent renovation, or simply that the street has many larger, pricier homes. A home inspection would clarify condition.
3. What’s the lot actually like?
At 7,619 sqft, the lot is top 15% in the neighbourhood and top 13% city-wide. It’s slightly smaller than the average lot on Vanderbilt Drive (7,833 sqft), but still well above what most homes in Whyte Ridge offer. You’ll have more yard space than most neighbours within the neighbourhood.
4. Who typically buys a home like this?
Often, buyers who prioritize location and land over interior size. It could also suit someone open to renovating or expanding, since the lot provides room. Families wanting a good outdoor space in a solid neighbourhood without paying for a huge house might find it a fit.
5. How does this property compare to older homes in Winnipeg?
This home was built in 1992, making it newer than 79% of homes city-wide. In a city where the median home was built in 1966, that’s a meaningful difference—you avoid many of the maintenance issues common in older Winnipeg houses, like knob-and-tube wiring or aging foundations.