Property Overview
48 William Tweed Terrace is a modern, well-situated home in Winnipeg's Peguis neighbourhood. Built in 2022, it offers a turn-key, low-maintenance lifestyle in a newer community. The home's assessed value of $500,000 positions it as a premium property city-wide but offers relative value within its immediate area.
Key Characteristics & Appeal
This home’s primary appeal lies in its balance of new construction and established community value. As a 2022 build, it ranks in the top 1% of homes city-wide for age, meaning major systems and finishes are modern and unlikely to need significant investment soon. With 1,257 sqft of living space, it is compact yet efficient, suitable for those who prefer easier upkeep without sacrificing modern amenities.
The property finds its strength in context. While it has the smallest living area on its street, its assessed value is also notably lower than the street average, suggesting a more accessible entry point into a desirable, new-build street. The lot size of 4,018 sqft is manageable, catering to buyers who want outdoor space without the burden of extensive landscaping.
This home would best suit first-time buyers or downsizers seeking a modern, move-in-ready property in a developing area. It’s ideal for those who prioritize new construction quality and energy efficiency over expansive square footage, and who see value in owning a newer asset in a city where the average home is significantly older.
Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
While its assessed value is below the average on William Tweed Terrace, it is above the city-wide average. This indicates you are paying a premium for the newer neighbourhood and street, but potentially getting a relative value compared to the immediate, even newer houses next door.
2. Is the living space too small?
At 1,257 sqft, it is below averages for both the street and the Peguis area. This makes it a more efficient, cost-effective option for heating, maintenance, and furnishing. It’s designed for simpler living rather than large-family accommodation.
3. What are the benefits of a 2022 build?
A home this new typically comes with modern building codes, energy-efficient windows and appliances, and contemporary electrical and plumbing systems. It also likely has remaining warranty coverage on major components, providing peace of mind.
4. How does the lot size impact usability?
The 4,018 sqft lot is smaller than the city average but fairly standard for newer subdivisions. It provides adequate space for a patio, garden, and play area while minimizing yard work. It’s a practical size for busy homeowners.
5. What does the sold price history indicate?
The home last sold between $450,000 and $500,000 in late 2022. The current assessed value of $500,000 suggests stable or slightly appreciating value in a short timeframe, which is a positive sign for market stability in the area.