Property Overview
3 Namarik Way is a modern two-storey home in Winnipeg's Fraipont neighbourhood, built in 2024. It offers 1,619 sqft of living space, an attached garage, and a full (unrenovated) basement on a 3,904 sqft lot. Its appeal lies in its new construction, offering modern building standards and minimal immediate maintenance in a well-established area. The home presents a balanced profile: its living space is above average citywide but typical for Fraipont, and its lot size is comfortable for the neighbourhood though smaller than the Winnipeg average. The assessed value is notably below average for its immediate street, which may indicate value relative to its newer condition.
This property would suit first-time buyers or downsizers seeking a modern, low-maintenance home without a lengthy commute, as well as practical investors looking for a newer asset in a stable area. It’s less suited for those wanting a large yard, a move-in-ready basement suite, or a home that stands out significantly in size on its block.
Frequently Asked Questions
How does this home’s value compare to others on the street?
The assessed value is in the top 90% on Namarik Way, meaning it’s one of the lower-valued homes on the street. However, given it’s one of the newest houses (ranked 1 of 10 for year built), this could represent a value opportunity or reflect different lot sizes or finishes.
Is the basement finished?
No, the basement is noted as "not renovated," meaning it is unfinished. This offers a blank canvas for future expansion but requires an investment to develop.
What are the trade-offs of the lot size?
At 3,904 sqft, the lot is above average for the street but below the citywide average. This typically means lower outdoor maintenance than a larger lot, but may limit extensive landscaping, additions, or pool installation compared to properties on larger lots elsewhere in Winnipeg.
How modern is this home relative to the broader area?
It is exceptionally modern for Fraipont and the city, ranking in the top 1% for year built in both contexts. Buyers benefit from new systems, contemporary layouts, and current building codes, which is uncommon in a market with an average home age dating to 1966 citywide.
What does the sold price history indicate?
The home sold in March 2024 for an estimated range of $49.50k to $52.50k. This recent sale provides a concrete benchmark, showing it transacted close to its current assessed value of $47.60k, suggesting a stable market valuation.