Property Overview: 502 Transcona Boulevard
Section 1: Key Characteristics & Appeal
This 2017-built home in Winnipeg's Peguis neighborhood offers modern construction in a well-established area. Its key appeal lies in its balance of being a relatively new build—ranking in the top 5% city-wide for age—while being priced below the neighborhood average. With 1,242 sqft of living space, it sits around the city-wide average, making it a practical size for smaller households or first-time buyers.
The property’s assessed value of $366k is notably below the Peguis neighborhood average of $488.3k, suggesting a potentially more accessible entry point into this area. However, the lot size is compact, significantly smaller than most in the neighborhood and city, which translates to lower maintenance but less private outdoor space.
This home would best suit buyers seeking modern systems and minimal immediate repairs, who prioritize interior space over yard size. It’s a pragmatic choice for those looking for value in a newer build, potentially appealing to young professionals, small families, or investors attracted to the 2017 build year within this price point.
Section 2: Frequently Asked Questions
1. Is this home a good value compared to others in Peguis?
Based on assessed values, this home is priced well below the neighborhood average. This could indicate a value opportunity, but it’s essential to understand why—factors include the smaller lot and living area compared to area norms.
2. What are the implications of the lot size?
The land area is compact, ranking in the bottom 2% of the neighborhood. This means lower yard maintenance, but also limited potential for expansions like large decks, additions, or extensive landscaping.
3. How does the 2017 build year affect this property?
A 2017 build is a significant advantage, placing it among the newest homes city-wide. Buyers can expect newer major components (roof, HVAC, appliances) and modern building standards, likely reducing near-term capital repair costs.
4. What is the context of the last sold price (2021)?
The home sold between $300k-$350k in March 2021. The current assessed value of $366k reflects market changes since then. A professional appraisal and market analysis are needed to determine its current fair market value.
5. How does the living space compare to nearby homes?
At 1,242 sqft, it’s slightly below the average for its immediate street but close to the city-wide average. It offers standard room sizes for its era, but may feel cozy compared to many larger, older homes in the broader Peguis area.