Property Overview
This home at 489 Kingsway in Winnipeg's North River Heights neighbourhood presents a distinct profile defined by its modernity and premium valuation within a well-established area.
Key Characteristics & Appeal
The primary appeal of this property lies in its rarity as a nearly new construction (built in 2022) in a mature neighbourhood. With 2,632 sqft of living space, it offers significantly more room than the average Winnipeg home, placing it in the top tier city-wide. Its assessed value of $1.27M is exceptionally high, ranking in the top 1% of the city and the North River Heights area, reflecting its premium positioning.
The home’s appeal is for buyers seeking a modern, spacious interior without compromising on a classic neighbourhood setting. It suits those who prioritize contemporary builds, low maintenance, and modern systems, and who are less concerned with having a large lot, as the land area is modest compared to other homes on Kingsway itself. This is an ideal fit for professionals or families looking for move-in-ready luxury in a central, prestigious area, willing to pay a premium for the combination of new construction and a prime location.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring properties?
The assessment reflects the home's very recent construction (2022). New builds with modern materials, layouts, and systems are valued significantly higher than the neighbourhood's older average stock, which dates to the 1930s.
2. Is the lot size a drawback?
While the lot is smaller than the average for Kingsway, it is typical for the wider North River Heights area and the city overall. It offers a balance of outdoor space with less yard maintenance, which some buyers may prefer.
3. What does the sold price history indicate?
The home last sold in 2017 for between $500k-$550k, prior to its rebuild or major renovation. This highlights the immense value added by the new construction completed in 2022.
4. How does the living space compare practically?
At 2,632 sqft, the living area is well above the city average (~1,342 sqft). This suggests a spacious layout with ample room for dedicated living, working, and entertaining spaces that are harder to find in older homes without renovations.
5. Where can I get verified historical sale data?
The site notes that exact sold prices are not displayed publicly due to industry rules. They offer a manual lookup service via email to provide full transaction history and exact figures upon request.