Property Overview: 1027 Lorette Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home stands out in Winnipeg's Rockwood neighborhood as a modern, above-average property in a setting of mostly older homes. Built in 2019, it is newer than over 95% of comparable homes in the immediate area, suggesting contemporary construction and systems. With 1,502 sqft of living space, it offers significantly more room than the typical home on its street and in Rockwood, ranking in the top 10% locally.
The primary appeal lies in its premium positioning. Its assessed value of $571k places it in the top 3% on its street and in the neighborhood, indicating it is viewed as a high-caliber property for the area. This presents a compelling mix: the amenities of a newer, spacious home within the established, mature fabric of Rockwood. A thoughtful perspective is that while the lot size is smaller than area averages, this often translates to less maintenance, which can be a desirable trade-off for buyers seeking a modern interior without extensive yard work.
This property would ideally suit buyers looking for move-in readiness and modern comforts without venturing into a new suburban subdivision. It’s a strong fit for professionals or small families who value space and newer infrastructure, and who appreciate being in a neighborhood where their home’s metrics—like age, size, and value—are notably above the surrounding norms.
Section 2: Frequently Asked Questions
1. How does the lot size impact the property?
While the land area is smaller than most in Rockwood and Winnipeg, this typically means lower maintenance. The trade-off is less private outdoor space, but the premium is clearly placed on the modern, spacious interior.
2. Why is the assessed value so much higher than neighboring homes?
The assessed value reflects the combination of the home's new construction (2019), its larger-than-average living area, and the quality of build. It's assessed among the elite properties in Rockwood because it is a clear outlier in age and size.
3. What does the sale history tell us?
The home last sold in late 2019 for an estimated $500k-$550k. This sale at the peak of its new-build value provides a baseline. Its current assessed value ($571k) has risen modestly since that initial purchase.
4. Is this a good value compared to the city overall?
City-wide, the home ranks above average for living space and in the top 10% for assessed value. You are paying a premium for a newer, large home, but it remains below the city's average assessed value benchmark of $390k, suggesting its valuation is anchored by its neighborhood.
5. How can I verify the exact past sale price?
The provided data shows a price range. Due to industry regulations, exact sale prices from MLS are not displayed here. You can request the exact figures via email from the site provider for a manually verified history.