27 Pegasus Street – Property Summary
Key Characteristics & Buyer Profile
This home offers a combination of a recent build (2022) and a compact urban lot, which is unusual for new construction in older Winnipeg neighbourhoods. The living area is 1,674 square feet—slightly above the citywide average but not oversized, which keeps it practical. The assessed value of $463,000 is a little low for its street but above the neighbourhood and city medians, suggesting the property may be priced more in line with its immediate neighbours than its newer construction would suggest.
The biggest appeal is the lot size and age trade-off. On its street, it has the largest land area (3,673 sqft), ranking in the top 7% locally. But compared to Winnipeg as a whole, the lot is well below average—many older homes sit on 6,500+ sqft lots. This means you get a larger-than-average plot for the street itself, but the overall land footprint is efficient, not sprawling. The home is also among the newest 1% of properties citywide, which can be a genuine advantage for maintenance costs and energy performance.
Who it suits: Buyers who want a newer home without a huge yard to maintain, and who value being on a street where most neighbours have similar-sized lots (so the house doesn’t feel cramped or overbuilt). It’s also a good fit for someone who wants a home that sits slightly below the street’s top value tier—less pressure to upgrade, and more room for modest equity growth if the neighbourhood improves. Not ideal if you need a large private yard or want to be on a street where the homes are all newer and higher-valued.
Five Possible FAQs
1. Why is the assessed value ranked so low on its own street but above average citywide?
The street itself has seven homes with assessed values above $495,000, so this property sits on the lower end of a relatively expensive block. But compared to the rest of Winnipeg, where the median assessed value for similar homes is about $390,000, it’s above average. This is common in areas where a few older, larger, or renovated homes push the local average up.
2. How does the lot size affect future resale value?
A 3,673 sqft lot is large for this street but small for the city overall. That can limit certain buyers (e.g., those wanting a big garden or room for an addition), but it also keeps the lot easier to maintain and may appeal to downsizers or first-time buyers who don’t want a huge yard. Being the largest lot on the street is a nice bragging point, but it doesn’t automatically mean higher resale—location and square footage matter more.
3. The year built is 2022—does that mean it’s still under warranty?
In Manitoba, new home warranties typically cover 1 year on materials and workmanship, 2 years on mechanical and electrical systems, and 5–7 years on major structural defects. Since this home was built in 2022, the main structural warranty should still be in effect for another 2–4 years, depending on the builder and policy. Always confirm the specific warranty terms in writing before closing.
4. How does this home compare to other new builds in West Kildonan Industrial?
This neighbourhood has a mix of older industrial-era homes and some newer infill. This property is newer than 81% of homes in the area (ranked 128 out of 664), so it’s relatively fresh. However, the lot size is right around the neighbourhood average, not unusually large. If you want a newer home with a bigger yard than most neighbours, this one is about average for the area.
5. Is the living area of 1,674 sqft considered spacious or tight for a 2022 build?
It’s slightly below the street average (1,768 sqft) but above the citywide average (1,342 sqft). For a modern build, 1,674 sqft is a comfortable three-bedroom home—not oversized, but not cramped. It would likely feel open and efficient compared to older homes of the same square footage, because newer construction tends to use space better. If you’re used to 2,000+ sqft homes, you may find it snug.