This is a newly built home (2023) in the Worthington neighbourhood, standing out for its construction quality and value rather than its land size. The property ranks in the top 1% city-wide for year built, meaning it’s effectively brand new in an area where the average home was built in the mid-1960s. Its assessed value reflects this: at $486,000, it’s in the top 3% on the street and top 5% in the neighbourhood, significantly above local averages of roughly $298,000 and $315,000 respectively. The living area (1,431 sqft) is also above average locally, though more in line with city-wide norms.
Where it doesn’t stand out is the lot. The land area (5,247 sqft) is on the smaller side for the street and neighbourhood, ranking around the middle or lower end. This creates a distinct trade-off: you get a modern, efficient home with high finishes and likely lower maintenance, but with less outdoor space than many older properties nearby.
The appeal here is for buyers who prioritize a move-in-ready, newer home with strong resale value over a large yard. It would particularly suit professionals, downsizers, or families who want a low-maintenance property in an established area without the compromises of an older house. The high assessed value relative to the neighbourhood also suggests this home could hold its value well in the local market, even if the lot size is modest.
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How does the assessed value compare to similar new homes city-wide?
The $486,000 assessment places it in the top 22% of comparable homes across Winnipeg. While that’s strong, the bigger story is its performance at the street and neighbourhood level, where it’s among the highest-valued properties in what’s largely an older housing stock.
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Is a 5,247 sqft lot considered small for Worthington?
Yes, relative to the neighbourhood. Most homes in this area sit on larger lots averaging around 7,831 sqft. The property ranks in the bottom third locally for land area. If you’re coming from a suburban development with standard-sized lots, this won’t feel cramped, but it’s noticeably tighter than many of its immediate neighbours.
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What does “Top 1%” for year built actually mean for the home’s condition?
It means you’re buying a home that’s effectively brand new in a neighbourhood where the vast majority of houses are 50 to 60 years old. That implies no major renovations needed, modern building codes, and current insulation and systems. However, it also means the property hasn’t yet developed the character or mature landscaping you’d find in older homes on the same street.
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Why is the living area ranked higher on the street than city-wide?
The street average for living area is only 1,051 sqft, so this home is well above the norm for Beliveau Road. City-wide, the average for comparable homes is 1,342 sqft, which is closer to this property’s size. In other words, it’s a spacious home for its immediate street, but only average-sized for a new home in the broader Winnipeg market.
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Does the strong assessed value mean property taxes will be high?
Likely, yes. Property taxes are based on assessed value, so a $486,000 assessment in a neighbourhood where the average is around $315,000 will result in higher-than-average taxes for the area. That said, the assessment reflects market value, so you’re paying for what the home is worth rather than overpaying relative to its quality. It’s worth checking current mill rates for an exact estimate.