Property Overview
74 Romance Lane is a two-storey home built in 2021, offering modern construction in Winnipeg's Canterbury Park neighbourhood. Its key appeal lies in its balance of being a newer build on a generous, established lot. With an attached garage, a full (though unrenovated) basement, and a living area of 1,378 sqft, it presents a practical, low-maintenance footprint.
The home’s standout characteristic is its relative newness. Built just five years ago, it ranks in the top 6% for year built within Canterbury Park and the top 2% citywide, suggesting significant savings on near-term major repairs compared to older area homes. The land size (4,307 sqft) is comfortably above the city average, providing good outdoor space in a neighbourhood where lots are typically smaller.
This property would suit first-time buyers or downsizers seeking a modern, move-in-ready home without the premium of a brand-new subdivision. Its below-average assessed value for the street could indicate an opportunity for equity growth, appealing to value-conscious buyers. The unrenovated basement offers a blank canvas for future expansion.
Frequently Asked Questions
1. Is this a good value for the area?
The home last sold in 2022 for $42.5k and currently has an assessed value of $40.5k. Its assessed value is below the street average, which could represent a value opportunity, but it's essential to compare it to current market listings and recent sales for the most accurate picture.
2. What does the "unrenovated basement" mean?
The basement is finished and usable but hasn't been updated. It likely features basic, functional finishes from when the home was built in 2021. It offers potential for future customization but is perfectly livable as-is.
3. How does the lot size compare?
At 4,307 sqft, the lot is larger than the average Winnipeg lot. In Canterbury Park, it ranks around the neighbourhood average, offering a good balance of yard space without excessive maintenance.
4. Who would this home not suit?
Buyers needing extensive finished space immediately may find the living area (1,378 sqft) and unrenovated basement limiting. Those seeking a historic character home or a brand-new, custom-built property would also likely look elsewhere.
5. What is the significance of the 2021 build year?
A 5-year-old home is past the initial builder warranty period, but it remains modern in its systems, insulation, and layout. It should be significantly more energy-efficient than the neighbourhood average (1997) and require minimal major upkeep in the short term, a key financial advantage.