Property Summary: 2-509 Academy Road, Winnipeg
Key Characteristics & Buyer Profile
This 1,363-square-foot home, built in 2023, sits on Academy Road within the Wellington Crescent neighbourhood. Its strongest feature is its age: it ranks first on its street and in the top 1% city-wide for new construction. In a neighbourhood where the average home was built around 1996, this property offers modern infrastructure, updated building standards, and likely lower immediate maintenance costs. While its living area is roughly average for its street and neighbourhood—slightly smaller than the local norm of around 1,675 to 1,781 square feet—it is well above the city-wide average for comparable homes. The assessed value of $422,000 sits modestly below both the street and neighbourhood averages but ranks in the top 8% city-wide, reflecting the premium associated with this location. The appeal lies in the combination of a highly desirable, established neighbourhood with a newer build that avoids the compromises often found in older homes. It would suit buyers who prioritize a turnkey property in a central, prestigious area, who are willing to accept a home that is not the largest on the block in exchange for modern construction and lower upkeep. This is not a house for someone seeking maximum square footage for their budget, but rather for a buyer who values efficiency, location, and a newer floor plan.
Frequently Asked Questions
1. Why is the assessed value lower than the street average despite being a new build?
New construction often carries a higher initial assessment, but the street average on Academy Road includes a mix of older, larger, and more established homes that have appreciated significantly over time. Your property’s value reflects its modern footprint—notably, its living area is slightly smaller than the street average—and the fact that very recent assessments may not yet fully account for immediate post-construction market shifts.
2. Is being "around average" for living area on Academy Road a disadvantage?
Not necessarily. Many buyers in this area are choosing the street for its character, walkability, and proximity to the river and shops—not for maximum interior space. A slightly smaller footprint can mean lower utility costs, less time spent on cleaning and maintenance, and a more efficient layout, which appeals to downsizers, professionals, or families who prioritize outdoor space over square footage.
3. How does the year built (2023) affect insurance and maintenance expectations?
A 2023 build typically qualifies for the best insurance rates due to modern electrical, plumbing, and roofing. It also means the home should meet current energy codes and fire safety standards. Buyers can expect fewer major repairs in the first decade compared to a home from the 1990s or earlier, though it’s still wise to have a new-build warranty and any builder defects documented.
4. Why is the city-wide ranking for assessed value (top 8%) much higher than the street ranking (top 59%)?
This reflects the strong location premium. Academy Road and the Wellington Crescent area command higher values than most of Winnipeg. While your home is priced competitively within its immediate peer group, it sits far above the city-wide average home value of roughly $256,000. The gap between your street ranking and city ranking underscores the desirability of the area itself.
5. How does the living area compare to other homes in the neighbourhood built around the same time?
There are very few homes in the Wellington Crescent area built as recently as 2023. Among newer infill or recent construction projects, square footage varies widely—some are quite large, others more compact. Yours falls on the modest end compared to some custom builds, but it is typical for a well-designed, efficiently planned modern home in this price tier. If the floor plan uses space well, the 1,363 square feet may live larger than the number suggests.