Property Overview: 51 Philip Lee Drive, Winnipeg
Key Characteristics & Appeal
This 2017-built home in the Peguis neighborhood offers a modern, low-maintenance footprint in a newer development. With 1,160 sqft of living space, it is notably compact compared to most homes on its street and in the immediate area, but aligns closely with the average Winnipeg home size. Its assessed value of $405k follows a similar pattern: it sits below the averages for Philip Lee Drive and Peguis, yet is slightly above the citywide benchmark. This creates a unique value proposition—it’s a newer construction home in a modern area, but priced accessibly relative to its immediate peers.
The appeal lies in this balance. Buyers get the benefits of a contemporary build (just 9 years old, placing it in the top 5% citywide for age) without the premium price tag of the larger homes that surround it. The lot size is modest, which translates to less yard upkeep. This property would suit first-time homebuyers, downsizers, or investors seeking a modern, turnkey property with efficient use of space. It’s a practical choice for those who prioritize newer systems and finishes over square footage, and who see value in entering a well-established newer neighborhood at a relatively accessible point.
Frequently Asked Questions
1. Is this home a good value compared to others on the street?
Based on assessed values, this home is priced below the street average ($543k). You are paying less, but also getting a home with a smaller living area and lot size than most neighbors. The value depends on whether you prioritize a newer build and lower cost over having more space.
2. How does the property’s size compare to the rest of Winnipeg?
Its living area (1,160 sqft) is very close to the Winnipeg average (1,342 sqft). While it feels compact within its own neighborhood, it’s a fairly typical size for the city as a whole.
3. What might explain the difference between the 2021 sale price and the current assessed value?
The home sold for an estimated $300k-$350k in mid-2021. The rise to the $405k assessment likely reflects general market appreciation over three years and the premium for a home that remains relatively new.
4. Are there any other similar homes nearby for comparison?
Yes. For example, 26 Prairie Crocus Drive (also built 2017, 1,160 sqft) has a nearly identical assessed value of $414k, suggesting this pricing is consistent for homes of this specific size and age in Peguis.
5. How can I get the exact historical sale price instead of the range shown?
The site provides sold price ranges publicly. To receive the exact sale figure, you must request it directly via email from the site administrators, as they manually look up and provide this data.