Property Overview & Key Characteristics
This home at 55 Paul Martin Drive in Winnipeg's Mission Gardens neighbourhood presents a compelling combination of space, modern age, and value. Its key appeal lies in its strong standing within its immediate area. The 1,401 sqft living area is notably above average for both the street and the neighbourhood, offering more interior space than most nearby homes. Built in 2007, it is one of the newer homes on the block, which often suggests updated building standards and potentially lower immediate maintenance costs. The lot size of 6,070 sqft is also generous for the area, providing ample outdoor space.
A thoughtful perspective is that this property represents a "big fish in a small pond." While its size and assessed value are around the city-wide average, they rank in the top tiers within Mission Gardens and on its own street. This indicates you are getting a home that stands out in its local context. It would particularly suit buyers looking for a well-established, mature neighbourhood who still want a relatively modern home with room to grow, or those who prioritize having more space—both indoors and outdoors—than their immediate neighbours.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $48,300k is for municipal tax purposes. The home last sold for an estimated $400k-$450k in 2021, which is a more relevant benchmark for current market value. The assessed value being in the top 5% on the street confirms the property is considered a high-value home in its direct vicinity.
2. What does the "Elite" or "above average" ranking actually mean?
These rankings compare this specific property against similar homes in three circles: its street, the broader Mission Gardens area, and all of Winnipeg. For example, ranking in the top 5% for year built on its street means it is newer than 95% of comparable homes on Paul Martin Drive. It consistently ranks highly within its neighbourhood.
3. Is a 2007-built home considered modern?
In the context of Winnipeg's housing stock, yes. The city-wide average year built for comparable homes is 1966, and Mission Gardens' average is 1988. A 2007 build is significantly newer, suggesting construction methods and materials that meet more recent codes, and potentially greater energy efficiency.
4. How stable is the value in this area?
The home's sold price in 2021 was already in the top third for the city, and its assessed value remains high within the neighbourhood. This consistent high ranking on its street and in Mission Gardens suggests it has historically held its value well relative to its immediate peers.
5. Where can I see more detailed context about the location?
You can open the neighbourhood map analysis to see this property in relation to nearby homes, comparing details like year built, lot size, and value visually. This helps understand the character and consistency of the immediate area.