15 Maralbo Avenue E – Property Summary
Key Characteristics & Buyer Fit
This is a compact, well-maintained home in Winnipeg’s Worthington neighbourhood, built in 1984. At 700 square feet of living space, it’s notably smaller than most homes on its street and in the surrounding area—ranking in the bottom tier citywide for size. The assessed value of $278,000 is also below the street average of $336,800, though it sits close to the neighbourhood median. The land is modest at 3,003 square feet, which is typical for the street but well below neighbourhood and city averages.
Where this property stands out is its age. Built in 1984, it’s newer than most comparable homes in Worthington (average year built: 1962) and newer than roughly 70% of homes citywide. That means newer construction standards, likely fewer major system replacements, and less deferred maintenance than many older houses in the area.
The appeal here is pragmatic. This is a smaller, lower-cost entry point into a neighbourhood where homes are generally older and larger. It would suit a first-time buyer looking to get into a stable mid-century suburb without taking on a fixer-upper, or someone downsizing who prioritizes a newer build over square footage. The trade-off is clear: you get a newer home, but less space and a smaller lot than most neighbours.
Frequently Asked Questions
1. How does the property's assessed value compare to its actual market value?
The assessed value is $278,000. Assessments are based on market conditions from a prior valuation date and may not reflect the current market. In a competitive market, actual sale prices often exceed assessed values, particularly for newer, lower-maintenance homes in older neighbourhoods. It’s best to compare with recent sales of similar-sized homes in Worthington.
2. The living area is small—would there be room to add an extension?
The lot is 3,003 square feet, which is below the neighbourhood average of 7,831 square feet. While an addition is technically possible, the lot size would likely limit a ground-floor expansion. Zoning and setback rules in Worthington would need to be confirmed, but a second-storey addition or a modest bump-out may be more feasible.
3. How does the property's age affect insurance and maintenance costs?
Homes built in the 1980s generally have fewer issues than pre-1960s houses, but they still rely on original systems that may be nearing end-of-life. Roofs, furnaces, and windows from that era are often due for replacement. Insurance rates for newer builds can be slightly lower, but the difference is usually modest compared to older homes.
4. Is the Worthington neighbourhood considered a good area for resale?
The rankings place this property in the top 12% on its street and top 40% in the neighbourhood by assessed value, suggesting stable but not rapid appreciation. Worthington is a well-established area with mostly older, larger homes. This smaller home may appeal to a specific buyer pool, which could affect how quickly it sells relative to average-sized homes nearby.
5. What does “Top 92%” mean in the street rankings?
It means the property ranks 46th out of 50 homes on the street for living area and assessed value—so it’s smaller and lower-valued than most. However, the year-built rank is much stronger (12th out of 50). These rankings compare this home only to “comparable homes” defined by the data set, which may not perfectly match all neighbouring properties.