Property Summary: 4-763 North Drive
Key Characteristics & Buyer Profile
This 1,747 sqft home, built in 2022, sits in the Wildwood neighborhood. Its defining trait is the contrast between street-level and citywide positioning. On North Drive, the home is sizable but average for the street (ranked 16th out of 50 for living area, where most homes are similar in size). Its assessed value of $441k is below the street average of $632k, which likely reflects a smaller lot, fewer interior upgrades, or a less premium location within the immediate block compared to neighbors.
However, citywide, the home is a standout. It ranks in the top 3% for living area citywide (where the average comparable home is 1,042 sqft) and top 6% for assessed value. The home is also one of the newest in the area—ranked 1st on the street for year built.
Where the appeal lies: You get a very new, spacious house without paying the premium price of the highest-valued homes on the street. The value gap ($441k vs. $632k street average) means there may be room for equity growth if the neighborhood continues to appreciate, or if you invest in finishes that bring it more in line with street peers.
What type of buyer it suits: Someone who wants a newer, large home in a well-established neighborhood but is willing to accept a street that might not be the most expensive or prestigious block in Wildwood. It’s a good fit for a buyer who prioritizes square footage and modern construction over a prime street address. It could also appeal to someone looking for a property with “value-add” potential—not through renovation, but through the simple passage of time as the street’s average value catches up to newer builds.
Frequently Asked Questions
1. Why is the assessed value low compared to other homes on the same street?
Assessed value reflects the property’s estimated market value based on its specific features, lot size, and condition. While the home is large and new, its valuation of $441k suggests it may have a smaller lot, a simpler finish package, or a less desirable position on the block than the $632k average. It’s not a fixer-upper—just priced differently from its immediate neighbors.
2. How does this home compare to the typical home in Winnipeg?
Very favorably. Citywide, the average comparable home is 1,042 sqft and built around 1990. This property is 700 sqft larger and brand new. It ranks in the top 3% for size and top 6% for value citywide, so it’s well above the typical Winnipeg home.
3. Is “above average” value citywide a good thing for resale?
Generally, yes. Being in the top 6% of values citywide means the home sits in a desirable price bracket. However, the street-level ranking (bottom 22%) means buyers looking specifically on North Drive might find it less appealing. Resale strength depends on whether future buyers value the home’s size and age more than the street’s prestige.
4. The home was built in 2022. Are there any common issues with very new builds?
New construction typically means better energy efficiency, fewer maintenance issues, and warranties that may still be active. The trade-off is that landscaping, fences, and basement finishes are often incomplete or builder-grade. Buyers should check the status of any Tarion or provincial warranty coverage, and confirm if the property has a driveway or yard that still needs work.
5. Should I be concerned that the home ranks low on its street for value?
Not necessarily—it depends on your goals. If you’re looking for a turn-key home that matches its neighbors in prestige, you might feel the gap. But if you’re buying for the space and newness, and you believe the street’s values will rise over time, the current lower assessment could be an entry point that offers upside. Just be aware that reselling may take longer if most buyers on North Drive expect higher-end finishes or larger lots.