Property Overview: 124 Granville Street, Winnipeg
Key Characteristics & Buyer Profile
This 912 sqft home, built in 2017, presents a distinct profile in Winnipeg's North Point Douglas neighbourhood. Its primary appeal lies in its modern construction, being one of the newest homes in the area—ranking in the top 1-3% locally for its year built. This translates to likely lower maintenance costs and contemporary building standards compared to the neighbourhood's predominantly early 20th-century housing stock.
The property holds a high assessed value relative to its immediate surroundings, ranking in the top 10% on its street and top 8% in North Point Douglas. This suggests it is viewed as a premium property within this specific market. However, it's important to note that its living space is more compact than most local and city-wide averages, and its city-wide assessed value ranking is below average, highlighting a significant value differential between this inner-city neighbourhood and the broader Winnipeg market.
This home would best suit a buyer seeking modern convenience in an established, transitioning neighbourhood. It’s ideal for a first-time homebuyer, downsizer, or investor who prioritizes a newer build with less immediate upkeep over square footage. The lot size is fairly typical for the area, offering modest outdoor space. A thoughtful perspective is that this property represents a "value outlier" on its block—it may appeal to someone betting on the continued renewal of the area, where newer builds set a benchmark, but it also carries a price premium within the local context.
Frequently Asked Questions
1. Is this a good value for the neighbourhood?
The data indicates it is assessed significantly higher than most nearby homes, placing it in the top tier locally. This suggests municipal assessment sees it as a premium property for North Point Douglas, likely due to its new construction. Value depends on whether you prioritize modern amenities over paying less for an older, potentially larger home in the same area.
2. What are the implications of the home being smaller than average?
With 912 sqft of living area, the home is notably cozier than most in the city. This suits efficient, low-maintenance living but may feel cramped for those needing multiple dedicated rooms or significant storage. The trade-off is a newer building with potentially better energy efficiency and layout.
3. Why is the city-wide assessed value ranking so different from the local ranking?
While the home is a high-value property in North Point Douglas, its assessed value ($239k) is below the city-wide average ($390.1k). This clearly illustrates the neighbourhood's more affordable positioning within the Winnipeg market. You are paying a premium for the locale, but still well below city-wide typical prices.
4. What does the 2017 build date mean for me?
A 9-year-old home is exceptionally new for this area, where many homes are over a century old. This typically means fewer major repairs (like roof, furnace, or foundation issues) in the near term, modern insulation and wiring, and potentially lower insurance costs. It’s a major draw for those wanting to avoid the surprises common with heritage homes.
5. How stable have property values been on this street?
Previous sales data shows the home sold in 2017 and 2019, both times within the $200k-$250k range. The current assessed value of $239k fits within that band, suggesting a relatively stable value history over the last several years in its market segment.