Property Overview
This home at 729 Scotland Avenue in Winnipeg's Earl Grey neighbourhood is a modern, two-storey property built in 2023. Its primary appeal lies in its combination of new construction, above-average living space, and a premium assessed value that ranks highly within its immediate area. The 1,560 sqft home sits on a 2,471 sqft lot and features a renovated basement. It last sold in December 2023 for $600,000.
Key Characteristics & Ideal Buyer
The standout feature of this property is its newness. Built in 2023, it ranks in the top 1% of homes in Earl Grey by year built, meaning it offers modern construction standards, energy efficiency, and contemporary layouts without the need for immediate updates. Its living space is comfortably above average for both the street and the neighbourhood, placing it in the top 14% locally.
The home’s assessed value of $590,000 is notably high, ranking in the top 5% on Scotland Avenue and the top 2% in Earl Grey. This indicates it is considered a premium property for the area. However, the lot size is more modest, below the neighbourhood and city-wide averages, which is a typical trade-off for newer infill homes in established communities.
This property would best suit buyers looking for a move-in-ready, modern home in a central neighbourhood who prioritize interior space and contemporary amenities over a large yard. It appeals to those wanting to avoid the surprises and renovation projects common with older homes, and who value the warranty protections and efficiency that come with new construction. The premium assessment suggests it’s positioned for buyers comfortable with a higher price point for the location.
Frequently Asked Questions
1. What does the high assessed value relative to the area indicate?
It signals that the municipal assessment views this as a premium property, likely due to its new construction, size, and finishes. This can influence property taxes and is a marker of its standing within the local market.
2. Are there any concerns with a smaller lot size?
The lot is below average for the neighbourhood. This means less private outdoor space but typically translates to lower yard maintenance. It’s important to consider if the layout and any outdoor living areas (like a deck or patio) meet your needs.
3. What are the benefits of a home built in 2023?
Beyond just being nearly new, benefits include modern building codes, current energy efficiency standards, and the likelihood that major components like the roof, HVAC, and appliances are under warranty, minimizing near-term repair costs.
4. The home sold recently in December 2023; is that a concern?
A quick resale isn’t inherently a red flag. It could be due to many personal or financial reasons unrelated to the property. However, it is a point to discuss with your real estate agent, who can help investigate the context.
5. What is the neighbourhood character like given the mix of old and new homes?
Earl Grey is an established neighbourhood with many older homes. This property, being very new, is part of a trend of infill development. The streetscape may feature a blend of classic and modern architecture, which some find dynamic, while others may prefer a more uniform streetscape.