188 Phoenix Way – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1,261 sqft home built in 2019 on a 2,572 sqft lot, with an assessed value of $327,000. Its strongest feature is its age—it’s the newest house on Phoenix Way (top 1%) and ranks in the top 4% citywide in Winnipeg, where the average home was built in 1966. That newness gives it a clear advantage in terms of modern construction, energy efficiency, and reduced immediate maintenance compared to most local stock.
The trade-off is in size and value. The living area is below average for its street and neighbourhood—about 170 sqft smaller than the street median—and the assessed value sits below both the street and neighbourhood averages. The lot is also compact, ranking in the bottom 20% locally and bottom 6% citywide. This means the property offers less square footage and outdoor space than many nearby homes, but that’s partly reflected in its lower price point.
The appeal here is for a buyer who prioritizes a newer, move-in-ready home over space. It suits first-time buyers or small families who want a modern floor plan and don’t need a large yard or extra rooms. It could also work for investors targeting properties with low deferred maintenance. The house stands out in a neighbourhood of older, larger homes—so if you value efficiency and a fresh build over square footage, this is worth a look. But if lot size or interior space is a priority, you’d likely find better options elsewhere on the street.
Five Possible FAQs
1. How does this home compare to others on Phoenix Way in terms of value?
It’s one of the lowest-valued homes on the street—ranked 77th out of 78. The average assessed value on Phoenix Way is about $376,000, so this property is roughly $49,000 below that. That gap is partly explained by its smaller size and lot, but it also means you’re not paying a premium for the newer construction relative to neighbours.
2. Is the small lot a problem for resale?
It could be for some buyers, but not all. The lot is 2,572 sqft—well below the citywide average of 6,570 sqft. In a neighbourhood like West Kildonan Industrial, where lots tend to be larger, this might limit appeal to buyers who want outdoor space. However, for those who prefer a low-maintenance yard or a more urban feel, it’s a feature, not a drawback.
3. Why is the assessed value lower than the neighbourhood average if the home is newer?
Newer doesn’t always mean higher value. Assessed value reflects factors like square footage, lot size, and location. This home is smaller than most in the area (1,261 sqft vs. the neighbourhood average of 1,591 sqft) and on a smaller lot, so the lower assessment is consistent with those factors. The age alone doesn’t outweigh the size difference.
4. What’s the neighbourhood like in terms of housing stock?
West Kildonan Industrial has a mix of older and newer homes, but the average year built in the area is 2021—meaning this home is only slightly older than the neighbourhood norm. The average home there is larger (1,591 sqft) and on a bigger lot (3,839 sqft). So while the street itself is older on average, the broader neighbourhood has newer construction that competes directly with this property.
5. Is this a good deal compared to citywide averages?
Citywide, this home is around average for living area (1,261 vs. 1,342 sqft) and slightly below average for assessed value ($327,000 vs. $390,100). But it’s significantly newer—top 4% citywide. For someone who values a modern home without paying a premium for extra space, it offers solid relative value. Just don’t expect a bargain on a per-square-foot basis; you’re paying for the age, not the size.