1-981 Lorette Avenue

Property Overview: 1-981 Lorette Avenue, Winnipeg

Key Characteristics & Appeal

This home stands out as a modern, high-value property in Winnipeg's Rockwood neighborhood. Its primary appeal lies in its significant size and premium valuation compared to its surroundings. Built in 2021, it is a notably newer construction in an area dominated by homes from the mid-20th century. With 2,326 sqft of living space, it ranks in the top 1-2% for size both on its street and in the broader neighborhood, offering substantially more room than the local averages.

The assessed value of $869,000 is the highest on Lorette Avenue and in Rockwood, placing it in the top 2% citywide. This indicates a property that has been appraised well above the norm for its area, reflecting its modern build and generous square footage. A less obvious point to consider is the lot size: at 3,990 sqft, it is slightly below the street average. This suggests the home's value is driven almost entirely by the structure itself rather than the land, appealing to those who prioritize interior space over extensive outdoor grounds. This property would best suit buyers looking for a modern, move-in-ready home without the typical maintenance of an older house, and who value ample living space in an established neighborhood. It is ideal for someone seeking a premium asset that leads its immediate market in both size and official valuation.

Frequently Asked Questions

1. How does the sold price compare to the assessed value?
The home sold for between $850,000 and $900,000 in late 2021. The current assessed value of $869,000 aligns closely with that sale range, suggesting the assessment is in line with its recent market transaction.

2. Is the property unusually large for the area?
Yes. The living area is more than double the street average (1,040 sqft) and neighborhood average (1,076 sqft), ranking it in the top 1-2% of homes locally for size.

3. What does the "Elite" ranking for year built mean?
It means this home, built in 2021, is one of the newest in its comparison group. The average year built for homes on its street is 1951, making this a rare modern construction in an older, established area.

4. Why is the land area ranked as "Below Average"?
While the house itself is large, the lot size of 3,990 sqft is smaller than the neighborhood and city averages for comparable homes. The premium is in the building, not the land parcel.

5. How can I verify the exact historical sold price?
The site provides sold price ranges publicly. Due to industry rules, exact MLS figures are not displayed online. You can request the exact sold price history via email from the site provider for verified figures.