Property Overview
7 Pelham Road is a well-maintained, one-storey home in the Dakota Crossing neighbourhood. Built in 1992, it features 1,471 sqft of living space, a renovated basement, and an attached garage on a 5,274 sqft lot. Its most recent sale was in September 2023 for $510,000, which aligns with its current assessed value.
Key Characteristics & Appeal
This home’s primary appeal lies in its balance and practicality. While its living space is modest for its immediate street, it is comfortably average for the wider neighbourhood and city, offering a manageable layout without feeling cramped. The renovated basement adds valuable finished space. The lot size is smaller than others on Pelham Road but is typical for Dakota Crossing, suggesting lower outdoor maintenance.
Its value proposition is noteworthy: the assessed value ranks significantly higher city-wide (top 18%) than it does within the neighbourhood or street. This indicates that, for Winnipeg overall, this property represents above-average value for the price point, likely due to the combination of its updates, lot size, and the desirability of the area.
This property would suit first-time buyers or downsizers seeking a move-in ready, single-level home in an established neighbourhood. It’s also a pragmatic choice for value-focused buyers who appreciate a home that holds its worth well in the broader market, even if it isn’t the largest on its block.
Frequently Asked Questions
How does the property’s size compare to the area?
At 1,471 sqft, the living area is slightly below average for Pelham Road itself but is very typical for the Dakota Crossing neighbourhood and matches the Winnipeg city-wide average for homes.
What does the assessed value tell us?
The $510k assessment is average for the street and neighbourhood but ranks in the top 18% city-wide. This suggests the home holds stronger comparative value across the entire Winnipeg market than it does just in its immediate surroundings.
Is the lot a good size?
The 5,274 sqft lot is smaller than most on Pelham Road but is standard for Dakota Crossing. It offers a balanced yard space that is easier to maintain than a larger plot.
How recent are the renovations?
The basement is noted as renovated, though the specific date and scope are not listed in the provided details. This would be a key point to clarify with the seller or listing agent.
Has the property value been stable?
The home sold for $460k in May 2023 and then $510k in September 2023. This recent increase, aligning with the current assessment, indicates a strong and appreciating market value over the past year.