140 Phoenix Way – Property Summary
Key Characteristics & Buyer Profile
This is a 2019-built home with 1,261 sq ft of living space on a 2,572 sq ft lot. Its standout feature is the construction year—newer than 96% of homes citywide, and the newest on its street. That gives it a clear advantage in terms of modern build quality, energy efficiency, and reduced immediate maintenance needs.
Living space is below the street and neighbourhood averages but slightly above the city average. The lot is small by most standards—94% of properties in Winnipeg have more land. Assessed value is $376,000, which sits close to the street average and below both the neighbourhood and city medians. In short, the value is in the house itself, not the land.
This property would suit buyers who prioritize a newer, move-in-ready home over yard space or a larger footprint. Think first-time buyers, young families, or empty nesters who want a low-upkeep home in a built-up area without paying a premium for grounds they don't need. It's less suited to anyone looking for a big lot or expecting to gain value from land appreciation.
Frequently Asked Questions
1. How does the small lot affect long-term value?
In this neighbourhood, smaller lots are common, so it's not out of place. However, the citywide data shows many buyers still prioritize land. Over time, value growth here will likely come from the modern house itself rather than the land underneath—a different profile than older homes with large lots in established areas.
2. Is the living space too small for a family?
1,261 sq ft is below the street and neighbourhood averages, but it's close to the citywide norm. For a couple or small family, it's workable. For anyone used to 1,500+ sq ft, it may feel tight. The layout and storage matter here—worth checking in person.
3. Why is the assessed value lower than the neighbourhood average?
The neighbourhood average is pulled up by older, larger homes on bigger lots. This property's newer construction offsets some of that, but it's smaller on less land, so the assessment reflects that balance. It's not a red flag—just a different property type.
4. How does a 2019 build compare to older homes in the area?
Most homes in the neighbourhood are from 2021 or earlier, so this one is slightly earlier than the local norm. Citywide, it's far newer than the 1966 average. That means fewer immediate repairs, better insulation, and modern systems—but it also means less character or historical value if that's what you're looking for.
5. Is this a good investment property?
It depends on your strategy. The new build means lower maintenance costs short-term, which helps cash flow. But the small lot and below-average living space may limit how much rent or resale value can grow. It's a solid starter home or low-maintenance primary residence, not a high-appreciation play.