Property Overview: 331 Peguis Street, Winnipeg
Key Characteristics & Appeal
This home is a modern, low-maintenance property built in 2021, offering a move-in-ready experience in Winnipeg's Peguis neighborhood. Its primary appeal lies in its contemporary construction, which places it in the top 2% of homes city-wide for age, suggesting minimal immediate repair costs and modern building standards. With 1,327 sqft of living space, it provides comfortable, average-sized interiors for the city, though it sits on a smaller, urban-friendly lot.
The property presents a compelling value proposition. Its assessed value of $344k is notably below the area average, positioning it as a more affordable entry point into a neighborhood where typical homes are assessed significantly higher. This combination of new construction and a relatively accessible price point is its standout feature.
It would best suit first-time homebuyers or downsizers seeking a modern, manageable home without the upkeep of an older property. It’s also a practical choice for investors or buyers who prioritize newer mechanical systems and interior finishes over larger yard space, as the lot is compact compared to most in the wider area.
Frequently Asked Questions
1. Is this a good value for the neighborhood?
The data suggests it is. The home's assessed value is in the bottom 3% for the broader Peguis area, where average values are around $488k. You are acquiring a much newer home (2021 vs. an area average build year of 2017) at a notable discount to the local market.
2. What does the "Elite" ranking for year built mean?
This indicates the home is newer than approximately 98% of all residential properties in Winnipeg. In a city with a median home age from 1966, a 2021 build is a significant rarity, offering modern amenities, energy efficiency, and warranty potential.
3. How does the lot size impact the property?
The land area is 2,309 sqft, which is typical for its immediate street but is in the bottom 4% city-wide. This means outdoor space is limited, reducing maintenance but also offering less privacy and room for expansion. It aligns with a low-maintenance lifestyle.
4. What can the 2021 sale price tell me?
The home sold for an estimated $300k-$350k in 2021. Comparing that to the current $344k assessment indicates stable value growth in line with the market, with no signs of unusual volatility.
5. Why is the living area considered "below average" for Peguis?
While the home's size is standard for Winnipeg overall, the Peguis area specifically tends to have larger homes (average 1,607 sqft). This highlights that the neighborhood offers a mix of home sizes, and this property is on the more compact, efficient end of that spectrum.