Property Overview: 748 Prince Rupert Avenue, Winnipeg
Key Characteristics & Appeal
This home stands out for its modern build and efficient use of space. Constructed in 2019, it is a notably newer property compared to most in the Munroe East neighbourhood and along Prince Rupert Avenue, where the average home is decades older. With 1,454 sqft of living area, it offers significantly more interior space than most comparable local homes, ranking in the top 3% on its street. This combination of new construction and above-average living space is its primary appeal, offering move-in readiness and modern amenities without the typical maintenance concerns of an older property.
The appeal, however, comes with a clear trade-off: a smaller lot. At 3,003 sqft, the land area is below the local and city-wide averages. This positions the property as an ideal fit for buyers who prioritize a modern, low-maintenance home and generous interior square footage over a large yard. It would suit professionals, small families, or downsizers seeking a contemporary living space in a well-established neighbourhood. A thoughtful perspective is that the high assessed value relative to the street and area suggests the market recognizes a premium for this modern build, but the smaller lot size is a defining factor for outdoor space and future expansion potential.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value reflects the property's modern construction (2019) and its larger-than-average living area for the immediate area. Newer builds with contemporary finishes and systems typically command higher valuations than older, smaller homes on the same street.
2. What does the smaller lot size mean for me?
The lot is below average in size for the neighbourhood. This typically means less yard maintenance and a more compact outdoor space. It may not be suitable for those wanting extensive gardens, large play areas, or significant outdoor additions like a large deck or pool.
3. How does the sold price history inform the current value?
The home sold in the $450k-$500k range in 2023, after initially selling for $350k-$400k when new in 2019. This history shows substantial appreciation in a short time, reflecting strong demand for modern homes in the area. It sets a recent benchmark for current market value.
4. Is this a good investment compared to older homes on the street?
This property represents a different type of investment. While older homes may offer value through larger lots and renovation potential, this home offers value through its new condition, energy efficiency, and immediate livability. Your priority—modern convenience versus land size and renovation projects—will determine the better fit.
5. What are the typical property taxes for this home?
While exact taxes depend on the annual mill rate, you can estimate them based on the $42,600 assessed value. As a general calculation, multiply the assessed value by the current Winnipeg municipal mill rate (approximately 1.3% to 1.4%) for an annual estimate.