Property Overview: 249 Southbridge Drive, Winnipeg
Key Characteristics & Appeal
This home at 249 Southbridge Drive in Niakwa Place presents a compelling value proposition centered on spaciousness and established neighbourhood appeal. Its primary strength is its generous 2,689 sqft of living area, which ranks within the top 5% of homes in Niakwa Place and the top 2% city-wide. This significant space is set on a sizable 7,373 sqft lot, offering ample room both indoors and out.
The appeal lies in its relative value. While the home is one of the older properties on its street (built in 1991), its assessed value of $657k is notably above average for the wider area and city, yet appears more moderate compared to its immediate street. This suggests you are acquiring substantial square footage in a desirable neighbourhood without paying the peak premium for a newer build on the same block. The property last sold in 2017 for an estimated $500k-$550k, indicating potential for appreciation.
This home would suit buyers prioritizing space over newness—growing families, those who work from home and need dedicated rooms, or anyone seeking a established property with mature landscaping on a large lot. It’s for a practical buyer who recognizes that an older home on a great street in a top-tier area can offer more room for the dollar.
Frequently Asked Questions
1. How does the home’s age affect its value and potential?
Built in 1991, the home is older than most on its specific street. This is reflected in its below-average ranking for year built on Southbridge Drive. However, it is still newer than the average Winnipeg home. The key consideration will be the condition of major systems (roof, windows, HVAC) typical of a 35-year-old property, which can be offset by the lot size and living space you gain.
2. Why is the assessed value higher than the last sold price?
The assessed value ($657k) is a municipal valuation for tax purposes, while the last sold price (est. $500k-$550k in 2017) is a historical market transaction. The difference highlights market appreciation over seven years and the city’s assessment formula. It’s a starting point for discussion, not a definitive market price.
3. What does the "top 5% city-wide" ranking for living area really mean?
It means this home is larger than approximately 95% of all residential properties in Winnipeg. This is a significant differentiator, offering rare interior space that is difficult to find, especially when combined with its above-average lot size.
4. Is the lot size a pro or con?
At 7,373 sqft, the lot is above average for both the city and Niakwa Place, providing excellent outdoor space. However, it is slightly smaller than the average lot on Southbridge Drive itself. This is a subtle point: you get a large yard by almost any standard, but not the absolute largest on the street.
5. How can I get the exact historical sold prices?
The provided sold price is an estimated range from public data. Due to industry regulations, exact MLS sold records are not displayed. You can request the full, verified transaction history by emailing the site directly for a manual lookup, which they provide without using your email for marketing.