1. Key Characteristics, Appeal & Suitable Buyers
This home at 11 Penrose Place is a single-family house built in 1965. At 1,012 square feet, it falls below the average size for its street, its Windsor Park neighbourhood, and all of Winnipeg. The lot is similarly modest at 5,248 sq ft, smaller than typical for the area.
Its appeal lies in its position within the local market relative to assessed value. The property’s tax assessment of $391,000 is noticeably higher than the average for the Windsor Park neighbourhood ($354,000) but lines up closely with the citywide average. This suggests a home that has held its value or been updated to a level that distinguishes it from nearby properties, even though its physical footprint is less generous than many neighbours.
This type of property suits a buyer who values the house over the yard. It would work for someone looking for a well-maintained, smaller-scale detached home in an established central neighbourhood, possibly a first-time buyer, a downsizer, or an investor drawn to the favourable comparison between the home’s assessed value and its local market standing. It is less ideal for someone who needs a large lot or expects a house with generous living space.
2. Frequently Asked Questions
Q: How does the property's smaller-than-average size affect its market appeal?
A: A smaller home in a neighbourhood of larger ones can mean a lower entry price than the area average. However, it also means the property may appeal to a narrower pool of buyers than a home that meets or exceeds local size norms. In Windsor Park, the assessed value being higher than average while square footage is lower suggests buyers may be paying a premium for condition, location, or recent updates rather than raw space.
Q: What does the "evaluation price" represent?
A: This is the municipal tax assessment, not the market value or asking price. It is used to calculate property taxes. In this case, the assessment of $391,000 sits well above the neighbourhood average of $354,000, which may indicate the home is considered more valuable than typical properties in Windsor Park by the city's assessor. This is worth confirming against recent sale data.
Q: How does the 1965 build year compare to other homes in the area?
A: The home is newer than the average home in Windsor Park (which tends to be from around 1961), but slightly older than the average on Penrose Place itself (around 1966). In practical terms, the home is of a typical vintage for the broader neighbourhood and should be approached with the same expectations regarding maintenance and older-home systems.
Q: Why is the land area so small compared to the neighbourhood and city averages?
A: This lot is well below the average for both the street (5,923 sq ft) and the broader neighbourhood (6,030 sq ft), though it lands near the middle of the pack for all Winnipeg properties. This is common on streets where lots were subdivided or platted in a tighter configuration than surrounding blocks. A buyer should check for any easements or setbacks that might further limit usable outdoor space.
Q: How does the assessment ranking in Windsor Park (top 13%) benefit a potential owner?
A: A top-13% assessed value within the neighbourhood can be a double-edged sword. It suggests the home has been recognized as a strong property locally, which may support resale value. On the other hand, it could also mean a higher property tax bill relative to similar-looking houses nearby, which is worth factoring into monthly costs.