Property Overview: 43 Philip Lee Drive, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of modern convenience and value-focused positioning. Built in 2018, it is a notably newer property compared to the Winnipeg city-wide average, offering the appeal of contemporary construction, systems, and likely lower immediate maintenance. With 1,205 sqft of living space, it provides efficient, manageable square footage that is typical for the city but sits below the average for its immediate street and Peguis area, suggesting a more compact and efficient layout.
Its primary appeal lies in its assessed value of $399k, which is strategically positioned. While it is below average for its own street and neighbourhood, it aligns closely with the city-wide average. This creates an opportunity for buyers seeking a newer home in a well-established area without the premium price tag often commanded by the largest homes on the block. The lot size of 3,694 sqft is modest, particularly on its street, which translates to less yard maintenance—a plus for those seeking a lock-and-leave lifestyle or preferring to spend less time on upkeep.
This property would ideally suit first-time buyers or downsizers who prioritize a modern, move-in-ready home in a mature neighbourhood. It’s also a practical choice for value-conscious buyers who want the benefits of a newer build but are comfortable with a more efficient floor plan and a smaller yard relative to their immediate neighbours.
Frequently Asked Questions
1. How does the value of this home compare to others in the area?
The home’s assessed value is below the average for both Philip Lee Drive and the broader Peguis area. However, it is very close to the average assessed value for the entire City of Winnipeg. This indicates you are purchasing a newer home at a value-oriented price point within a desirable neighbourhood.
2. The living space is noted as below area averages. Does that mean the home is small?
At 1,205 sqft, the home is not small by general standards and is near the city-wide average. It is, however, more compact than many of its immediate neighbours. This often translates to efficient use of space, lower utility costs, and a home that is easier to maintain.
3. The home sold recently in 2024. What does the sold price indicate?
The sold price range (CA$400k-450k) placed it in the top 27% city-wide for value at the time, suggesting strong market interest. The final price likely reflected the premium for a nearly new build, balancing its smaller lot and living area relative to the neighbourhood.
4. What are the implications of having a smaller lot?
The 3,694 sqft lot is significantly smaller than most on the street. The benefit is minimal yard maintenance. The consideration is less private outdoor space and potentially less room for expansions like decks or additions, which is important for future planning.
5. As a newer home, what should I investigate regarding its history?
Since it’s only 8 years old, major structural issues are unlikely. Focus should be on the quality of finishes and any builder warranties that may still be transferable. It’s also wise to check if the home was built during a period of high construction demand, which can sometimes impact build quality. Reviewing the permit history for any additions or major alterations is still recommended.