Key Characteristics & Buyer Profile
This 2023-built, 1,354 sqft home on Lynx Street in West Kildonan Industrial offers a few notable trade-offs. It tops the street for living space (rank 1 of 16) and is the newest build on the block, but its land is relatively small—2,338 sqft ranks near the bottom city-wide. The assessed value of $375,000 sits slightly above the street average but notably below the broader neighborhood median of $443,000, likely reflecting the smaller lot size compared to older, larger neighboring properties.
The appeal here is less about land and more about a modern, efficient footprint in a street where most homes are older and smaller inside. For a buyer who values a newer, turnkey interior over yard space, this property stands out on the block. It may particularly suit first-time buyers or those downsizing who want a low-maintenance property without the premium price tag of larger lots in the area. The contrast between being competitive on the street but below average in the wider community suggests the home offers relative value locally but isn't a standout investment in terms of land appreciation.
Frequently Asked Questions
1. How does the property's assessed value compare to similar newer homes nearby?
While the assessed value of $375,000 is above the street average, it's below the community average of $443,000. The gap likely comes from the smaller lot size relative to older homes in the area that have more land. Among newer builds specifically, this price point is fairly aligned with what you'd expect for a modern home on a compact lot.
2. Is the small land size a concern for resale?
It's worth noting that the 2,338 sqft lot ranks in the bottom 2% city-wide, which could appeal to buyers seeking low upkeep but may limit appeal for those wanting outdoor space or expansion potential. On this street, however, the lot is actually above average, so it fits the immediate neighborhood context well.
3. How old is the home compared to others in the area?
Built in 2023, it's among the newest 1% of homes across all of Winnipeg and the newest on Lynx Street. The community average construction year is 2021, so while newer than most, it's not an extreme outlier for the neighborhood.
4. What does "assessed value" mean for property taxes?
The assessed value is used by the city to calculate property taxes. At $375,000, the tax bill would be based on that figure. It's not the market price, but it gives a reliable baseline for annual carrying costs, especially useful when comparing to older homes with lower assessments.
5. How does the living space compare within the broader West Kildonan area?
At 1,354 sqft, it's slightly below the community average of 1,591 sqft, ranking in the lower 73%. The home is generous for the street but modest for the wider area, meaning it may feel spacious relative to immediate neighbors but compact versus older, larger homes in the district.