Property Overview: 123 Youville Street, Winnipeg
Key Characteristics & Appeal
This 2017-built home in Norwood East presents a distinct value proposition centered on modern construction in an established neighborhood. At 812 sq ft, the living space is notably compact, ranking below average for the street, area, and city. This efficiency, however, is paired with a relatively high assessed value of $368k, which sits above average for both the immediate street and the broader Norwood East area. This suggests the value is driven significantly by the home's newness—it is newer than 97% of homes in the area—rather than its size.
The primary appeal lies in acquiring a near-new, low-maintenance property without the premium typically associated with a brand-new build. It suits buyers prioritizing modern systems, energy efficiency, and contemporary finishes over square footage. The smaller lot (3,461 sq ft) further underscores a lock-and-leave or minimalist lifestyle. It’s an ideal fit for a first-time buyer, a downsizer, or an investor seeking a modern property that will likely appeal to renters wanting a turnkey experience. A less obvious perspective is that this home represents a strategic entry into a mature neighborhood where most properties are decades older, offering the charm of the area with the practical benefits of a recent build.
Frequently Asked Questions
1. Why is the assessed value relatively high despite the smaller size?
The assessed value reflects the property's age more than its square footage. As a 2017 build, it is among the newest homes in Norwood East, featuring modern construction standards, materials, and systems that command a higher valuation compared to the neighborhood's predominantly mid-20th century housing stock.
2. What does the sold price history indicate?
The home sold between $300k-$350k in July 2021. The current assessed value of $368k is above that range, indicating market appreciation and the city's assessment of its current worth relative to comparable properties.
3. Who would this property not be suitable for?
It would likely not suit buyers needing multiple bedrooms, dedicated home office space, or those who prioritize large yards and extensive indoor living areas. The floor plan and lot size are designed for efficient, simpler living.
4. How does the lot size impact potential use?
The lot is below average in size for the area. This limits potential for large additions, extensive landscaping, or detached structures like a sizable garage or workshop. It does, however, mean less yard maintenance.
5. How can I verify the exact historical sold prices?
The displayed sold price is an estimated range from public data. For fully verified and exact transaction figures, you must request a manual lookup from the site via email, as they do not have access to or display MLS sales records.