41 Cordova Street – Property Summary
Key Characteristics & Buyer Profile
This is a brand new home (built 2023) in the Wellington Crescent area of Winnipeg, with a living area of 2,339 square feet on a 5,128-square-foot lot. The assessed value is $1.2 million.
Its strongest features are the house itself and its location on Cordova Street. The living area ranks in the top 4% city-wide and top 4% on its street, meaning it’s significantly larger than most homes in Winnipeg and most others on this block. The year built is among the newest in the entire city (top 1% city-wide), which is notable in a neighbourhood where the average home was built around 1940. The assessed value reflects this: top 1% city-wide and top 2% on the street, well above the street average of $492,700.
The trade-off is the land. The lot is essentially average for Cordova Street (5,128 sqft vs. the street average of 5,045 sqft) and well below average for the broader Wellington Crescent neighbourhood, where typical lots are 9,488 sqft. This suggests the appeal isn’t acreage or privacy—it’s a newer, spacious home on a standard city lot in a prestigious area.
This property suits a buyer who wants a turnkey, modern home in a well-established, high-value neighbourhood, without the maintenance or renovations of an older house. It’s less suited to someone seeking a large private lot or a historic character home. The ranking data shows you’re paying a premium for the house itself, not the land beneath it—a deliberate trade-off.
Frequently Asked Questions
1. Why is the assessed value so much higher than the street average?
The average home on Cordova Street was built in 1944. This home was built in 2023, so it’s newer, larger (2,339 sqft vs. 1,517 sqft average), and in a different condition bracket. The assessed value reflects the current replacement cost and market value of a modern house, not the historic average for the street.
2. The lot is described as “below average” for the neighbourhood—what does that mean practically?
It means Wellington Crescent has many properties with lots over 9,000 sqft, often with deep backyards or side yards. At 5,128 sqft, this lot is closer to a typical city lot size. You won’t have the sprawling grounds of some neighbours, but you also won’t have the maintenance or property taxes that come with them.
3. Is this home a tear-down or a flip?
No. It was built in 2023, so it’s a new construction. The data shows it was built on a street where most homes are nearly 80 years old. It’s likely a custom infill or replacement build, not a renovated older home.
4. How does the property rank for resale value compared to others?
It’s in the top 1% city-wide for assessed value, which is a strong indicator of market position. However, the land is average, so future appreciation will depend more on the house value holding up than on land scarcity. In a market where land values rise faster than building values, this home may appreciate more slowly than a larger lot property in the same area.
5. The neighbourhood average living area is 2,343 sqft—close to this home’s 2,339 sqft. So isn’t it average for the area?
Within Wellington Crescent, yes, it’s around average (top 38%). But within the city as a whole, and especially on its own street, it’s well above average. The neighbourhood cohort includes many very large older homes, so “average” here is still a good size. The house is not unusually large for the area, but it is unusually new.