Property Overview
This 2024-built home at 1007 Lorette Avenue in Winnipeg's Rockwood neighborhood presents a distinct profile defined by its new construction and premium positioning within an established area. Its appeal is rooted in offering modern living in a convenient location, though it comes with a notable trade-off regarding outdoor space.
Key Characteristics, Appeal & Ideal Buyer
The home’s most defining feature is its newness. Built in 2024, it ranks in the top 1% for year built compared to homes on its street, in Rockwood, and across Winnipeg, where average build years range from 1949 to 1966. This ensures modern building standards, energy efficiency, and minimal immediate maintenance.
Its appeal lies in offering above-average, move-in-ready living space (1,530 sq. ft.) within a neighborhood of mostly older, smaller homes. The assessed value of $598k is elite for the immediate area (top 2%), indicating it is a high-value outlier. This was confirmed by its recent sale in the $600k-$650k range, a significant increase from its 2022 sale price of $150k-$200k, suggesting a tear-down and rebuild scenario.
The primary trade-off is land area. The lot of 2,527 sq. ft. is below average for the street, neighborhood, and city, meaning smaller yards and less outdoor private space—a notable contrast to the generous lots typical of the area.
This property would best suit buyers prioritizing a modern, low-maintenance home in a central location over a large yard. It’s ideal for professionals or small families who want new construction without moving to a distant suburb, and for those who value being in a statistically elite home for its area in terms of size, value, and condition.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighboring homes?
The assessed value reflects the brand-new construction of the home itself. While located on the same street as older, smaller houses, the modern build, materials, and size of this specific property place it in a different value category, ranking in the top 2% for the area.
2. Is the lot size a practical concern?
It depends on your lifestyle. The lot is significantly smaller than the neighborhood average. This means less room for gardening, large play structures, or expansive outdoor entertaining. However, it also translates to less yard maintenance.
3. What does the dramatic increase in sale price from 2022 to 2024 indicate?
The jump from approximately $150k-$200k to $600k-$650k strongly suggests the previous home on the lot was purchased, demolished, and this new home was constructed. This explains its top 1% ranking for year built in an older neighborhood.
4. How does the living space compare practically?
At 1,530 sq. ft., the living area is comfortably above average for the immediate street and Rockwood area, offering more interior space than most nearby homes. It is, however, slightly below the Winnipeg citywide average for comparable properties.
5. Where can I get verified, exact historical sale prices for this home?
The site provides estimated price ranges. Due to industry rules, exact MLS sold records are not displayed. You can request the full transaction history and exact figures via email from the site provider, who will manually look up and send the information.