This 1,600 sqft home, built in 1996, sits on a 4,286 sqft lot in the Whyte Ridge neighbourhood of Winnipeg. The property stands out most for its age: it ranks #2 out of 20 homes on its street (top 10%) for being newer, and well above the citywide median build year of 1966. Its living area is similarly strong citywide (top 25%), though it is only average compared to the immediate street and neighbourhood. The assessed value of $494k is slightly below the street and neighbourhood averages but sits in the top 21% citywide, suggesting the home is priced reasonably relative to the broader market. The land area is the smallest on the street (4,286 sqft vs. a street average of 6,128 sqft), and noticeably below neighbourhood norms.
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How does the land area compare to other homes nearby?
This lot is the smallest on its street (ranked 20 out of 20) and in the bottom 7% of the neighbourhood. If a large yard is important, this would be a drawback. But for someone who prefers less grass to cut or a more urban feel, it could be an advantage.
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Why is the assessed value below the street average if the home is newer?
Age is only one factor in assessed value. The smaller lot size and possibly slightly lower square footage or interior finishes compared to other homes on the street could bring the value down. Being below the street average does not mean it is overpriced—it may simply reflect trade-offs in land and features.
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Is this home considered a good value within Winnipeg as a whole?
Yes, based on the citywide data. The assessed value ranks in the top 21% while the living area ranks in the top 25%, and the build year is in the top 19%. This indicates you are getting a newer, reasonably sized home at a value that is more competitive relative to the broader city than it is to its immediate street.
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How does the home’s age affect maintenance expectations?
Built in 1996, the home is roughly 28 years old as of 2024. Major systems (roof, furnace, windows) will likely have been replaced or will be due soon depending on the previous owner’s upkeep. Compared to older Winnipeg homes, the structure should be more energy-efficient and modern in layout, but it is not new enough to ignore inspection findings.
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Would this property likely appreciate more than others on the street?
Homes with smaller lots in established neighbourhoods sometimes appreciate more slowly than those with larger lots, especially if land value drives local pricing. However, a newer build with a functional layout can hold its value well. Its below-average lot size may limit upside, but its strong citywide position could offset that if neighbourhood demand remains steady.