Property Summary: 1-397 Horace Street, Norwood East, Winnipeg
Key Characteristics & Appeal
This home stands out as a modern, high-value residence in a well-established neighborhood. Built in 2020, its 1,950 sqft living area is significantly larger than most homes on its street and in Norwood East, offering spacious, contemporary living without the typical maintenance of an older property. Its primary appeal lies in its elite assessed value, which ranks in the top 1% of its immediate area, indicating it is a premium asset within a sought-after location. The lot size is consistent with local averages, providing standard outdoor space without excessive upkeep.
This property is ideally suited for buyers seeking a move-in ready, modern home in a mature neighborhood, who value space and recent construction. It would also appeal to those viewing real estate as a long-term investment, given its strong value standing. A less obvious perspective is that it offers the rarity of a new build in an old area, providing modern efficiency and layout within the character and stability of Norwood East, without the premium often associated with infill development in more central neighborhoods.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighborhood average?
The assessed value reflects the home's recent construction (2020), its above-average living area, and its premium finishings compared to the predominantly older housing stock in Norwood East, where the average home was built in the 1930s.
2. What are the likely utility or maintenance costs given the home's age?
As a four-year-old home at the time of assessment, it likely benefits from modern building codes, energy-efficient systems, and updated appliances, which typically translate to lower monthly utility costs and minimal immediate maintenance compared to older properties in the area.
3. How does the lot size compare, and what are the implications?
At just under 4,900 sqft, the lot is very typical for the street and neighborhood. This suggests manageable yard maintenance and aligns with the community's established density, but may not suit buyers looking for extensive private outdoor space.
4. The home sold recently in 2023. What does that rapid resale indicate?
While specific details require verified data, a resale after three years could indicate various neutral or positive factors, such as a change in the owner's circumstances, typical market movement, or even a successful renovation flip that capitalized on the original purchase.
5. How can I verify the exact historical sold prices?
The provided sold price ranges are based on public data. To obtain fully verified and exact sale figures, you must request a manual lookup from the site via email, as this information is not sourced from the MLS system.