Property Overview
114 Royal York Drive is a well-established family home in Winnipeg's Linden Woods neighbourhood. Built in 1987, it offers 1,837 sqft of living space on a 6,442 sqft lot. The home presents a compelling profile: its living area and lot size are comfortably above the Winnipeg city average, placing it within the top 25% and 23% respectively city-wide. However, its assessed value is notably lower than most homes on its own street and in Linden Woods, while being above average compared to the entire city. This suggests a property that may offer more space for the money within this desirable area. Its recent sale in the $500k-$550k range in 2024 aligns with this perspective.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as a solid, above-average-sized property in a sought-after neighbourhood, but with an assessed value that sits below its immediate peers. This creates a potential value opportunity for buyers targeting Linden Woods. The lot provides generous outdoor space for a city property, and the home itself is newer than most in Winnipeg overall.
It would suit practical buyers looking for a family-friendly community without paying the peak premium for the street. It’s ideal for someone who values space—both indoors and out—over a fully modernized or high-spec finish, and who sees potential in a home that may be priced more accessibly within its own prestigious area. A thoughtful buyer might note that its "below average" assessment on the street could indicate room for cosmetic updates, allowing them to add value and personalize the space.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes on the street?
While the exact reason isn't specified, a lower assessment compared to direct neighbours can sometimes relate to the home’s specific condition, layout, or features relative to others. It’s a key point to investigate during a viewing and with a professional inspection.
2. How does the recent sale price compare to the assessment?
The home sold for between $500,000 and $550,000 in 2024. This sale price is significantly higher than its $52,600 assessed value, which is not uncommon as market value and assessed value for taxation purposes often differ. The sale price is the more relevant indicator of current market worth.
3. Is the living space considered large for the area?
At 1,837 sqft, the living area is slightly above the average for Royal York Drive itself and is comfortably above the average for the entire City of Winnipeg. Within the broader Linden Woods area, it is just around the average size.
4. What does the "Top X%" ranking mean?
These rankings compare this specific property against groups of similar homes. For example, being in the "Top 16%" for living area city-wide means 84% of comparable Winnipeg homes have less living space. It’s a useful tool for understanding how the property measures up in different contexts.
5. The home was built in 1987. What should I consider?
A home of this age is likely to have seen updates over time. Key systems like the roof, windows, furnace, and electrical should be evaluated for their age and condition. This era of home may present opportunities to modernize finishes to personal taste.