476 Manitoba Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,080-square-foot home built in 2003, sitting on a 3,547-square-foot lot in the William Whyte neighbourhood of Winnipeg. What stands out is the combination of a relatively new build in an older area—the home ranks in the top 9% on its street and top 10% in the neighbourhood for year built. That means most neighbouring houses were built decades earlier, so this property offers modern construction without the premium of a newer subdivision.
The living area is around average for the street and neighbourhood, which is straightforward: no surprises on space. The assessed value of $189,000 is notably above the neighbourhood average ($149,100) but well below the citywide average ($390,100). That gap reflects the property being better than its immediate surroundings, but in a part of the city where overall prices are lower. The land area is slightly above the neighbourhood average, though smaller than many citywide lots.
Where the appeal lies: The main draw is a newer home in an established, older neighbourhood—someone gets a relatively modern structure without paying for a trendy area. It might also appeal to buyers who want lower citywide tax exposure relative to assessed value, since the home’s value is modest by city standards. The land-to-building ratio is reasonable for the area, so there’s some outdoor space without a huge maintenance burden.
Who it would suit: First-time buyers who need a move-in-ready home and aren't looking for a fixer-upper; buyers who want to be in a central neighbourhood with older character but prefer a newer building envelope; or investors looking for a property where the assessed value is below the neighbourhood average for similar new builds, potentially offering room for appreciation if the area continues to develop.
Frequently Asked Questions
1. How does the assessed value compare to what I'd actually pay?
The assessed value is $189,000, but that's a municipal valuation, not a market price. It's above the neighbourhood average for comparable homes, but well below citywide averages. In practice, a newer home in an older neighbourhood often sells close to or slightly above assessed value, but you'd need a local agent or recent sales data to confirm the market range.
2. Is the living area small for a house built in 2003?
It's 1,080 square feet, which is average for the street and neighbourhood, but on the smaller side compared to newer suburban homes (citywide average is 1,342 sqft). The layout likely uses space efficiently, but it wouldn't be suited for someone expecting large, open rooms or expansive square footage.
3. Why is the land area ranked lower citywide but higher in the neighbourhood?
The lot is 3,547 square feet. Against typical Winnipeg lots (average 6,570 sqft), it's small. But in William Whyte, many lots are smaller—averaging 3,277 sqft—so this one ranks in the top 24% locally. The lot is generous for the area but would feel compact compared to outskirts or newer developments.
4. What's the catch with a 2003 home in a neighbourhood where most buildings are from the 1920s–40s?
The home itself is modern, but the surrounding infrastructure—sidewalks, street trees, neighbouring house conditions, nearby amenities—reflects the older area. That can mean less uniformity in upkeep from block to block, and possibly less resale demand if the neighbourhood hasn't seen broader reinvestment. The property is a newer island in an established pocket.
5. Does the ranking system tell me anything about investment potential?
The rankings show this property is above average for its street and neighbourhood in year built and assessed value, but average for living area. That suggests it's already a relative standout locally. If the area gentrifies or attracts more new builds, the home could hold value better than older stock. However, being in the top 10–20% locally also means less upside from simple catch-up—it's already priced as a better property in its immediate context.