1-1518 Logan Avenue: Property Summary
Key Characteristics & Buyer Profile
This is a 2019-built home with 914 square feet of living space on a 4,219-square-foot lot, located in the Weston neighbourhood of Winnipeg. What stands out immediately is the assessed value: $599,000. That puts it in the top 1% on its street and neighbourhood, and the top 8% citywide. For context, the average assessed value on Logan Avenue is roughly $188,000.
The home itself is relatively modest by citywide standards—914 square feet is well below the Winnipeg average of 1,342 square feet. But the land (4,219 square feet) is above average for both the street and neighbourhood. The house is also new: built in 2019, which places it in the top few percent across all three comparison levels (street, neighbourhood, city).
The buyer profile here isn't someone looking for maximum square footage or a sprawling suburban lot. This suits a buyer who values a newer, move-in-ready structure, in an older inner-city area, and who prioritizes lot size relative to the immediate neighbourhood. The assessed value suggests the property may have been substantially upgraded or holds development potential that the market has already priced in. It could also appeal to an investor or buyer who sees long-term land value in a street that otherwise has much older, lower-assessed homes.
Frequently Asked Questions
1. Why is the assessed value so much higher than other homes on Logan Avenue?
The assessed value likely reflects the home being built in 2019, when most homes on the street date to the late 1940s. It may also include significant improvements or a larger land component than typical nearby properties. The data doesn't specify renovations, but the combination of age and lot size is a strong factor.
2. Is the living area (914 sqft) too small?
It depends on your needs. It's around average for both the street and neighbourhood, so it's consistent with what's typical in Weston. But it's well below the Winnipeg citywide average (1,342 sqft). If you're comparing to suburban new builds, it's compact. If you're comparing to older urban homes in the area, it's standard.
3. How does the lot size compare?
The lot is 4,219 sqft, which is above the street and neighbourhood averages (3,664 and 3,269 sqft respectively). It's slightly below the citywide average of 6,570 sqft, but for an older urban neighbourhood, that's a generous lot. The rankings (top 22% on the street, top 19% in the area) confirm this.
4. What does "rank" mean in these statistics?
The rank shows how this property compares to similar homes within that geographic scope. A rank of #1 out of 219 on Logan Avenue means it has the highest assessed value on the street. A rank of #6 out of 219 for year built means only 5 homes are newer. The percentage (e.g., "Top 1%") indicates how it stacks up overall. Lower percentage = better ranking.
5. Is this home good for redevelopment?
The land area is above average for the area, and the assessed value is already high, which suggests the market has recognized something. However, the property is only five years old, so immediate redevelopment is unlikely unless zoning allows for multi-unit use. The value may lie in holding the asset as the neighbourhood evolves, rather than a tear-down scenario. Check local zoning before assuming upside.