Property Overview: 299 Patrick Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of modern convenience and value within Winnipeg's Logan-C.P.R. neighbourhood. Its primary appeal lies in being a relatively new build (2017) in an area dominated by much older homes, offering move-in readiness and contemporary construction standards without the premium of a brand-new subdivision.
The 874 sqft living space is modest and below average for the area, suggesting an efficient, low-maintenance layout ideal for individuals, couples, or small families. A standout feature is its Assessed Value of $22,600, which ranks significantly above average for both its street and neighbourhood. This indicates strong municipal valuation relative to nearby properties, often a positive factor for equity and lending.
The lot is compact at 2,090 sqft, which translates to minimal yard upkeep—a benefit for those seeking an urban lifestyle without weekend yard work. This property would suit first-time buyers, downsizers, or practical investors looking for a modern, tax-efficient asset in a central location. It’s a home for those who prioritize condition and financial efficiency over sheer space, offering a rare opportunity to own a newer build in an established community.
Section 2: Frequently Asked Questions
1. Is the low assessed value a concern?
No, it’s actually a key strength. A higher assessed value relative to immediate neighbours (ranking in the top 15% on its street) can signal stronger municipal valuation, which is positive for long-term equity. It’s distinct from market price and often reflects the property’s modern build year compared to the area's older housing stock.
2. How does the smaller living area impact livability?
The below-average square footage (874 sqft) indicates a efficient, likely open-concept floor plan. It’s well-suited for 1-2 occupants and emphasizes low utility costs and ease of maintenance. Buyers seeking ample room for growing families or dedicated home offices should view the property in person to gauge the layout.
3. What does the compact lot size mean for me?
The 2,090 sqft lot is smaller than most in Winnipeg. The benefit is minimal exterior maintenance and lower landscaping costs. The trade-off is limited space for additions, large gardens, or extensive private outdoor recreation.
4. The home sold between $200k-$250k in 2017. What does that history tell us?
As the original sale from its 2017 construction, that price reflects its brand-new condition at the time. It provides a baseline but does not dictate current market value, which is influenced by nearly a decade of market changes, improvements, and area development.
5. Why is the build year (2017) considered such a standout feature?
In Logan-C.P.R., where many homes were built in the early 1900s, a 2017 build is exceptional. It means major systems (roof, wiring, plumbing, insulation) are modern and under warranty for years to come, offering significant savings and peace of mind compared to the renovation needs typical of older area homes.