343 St George Road – Property Summary
Section 1: Key Characteristics, Appeal & Likely Buyers
This is a 1,008-square-foot home built in 2001 on a 4,487-square-foot lot. Its standout feature is its age: it’s significantly newer than most nearby homes. On its street, it ranks 6th out of 60 for recency (top 10%), and it’s in the top 6% for the wider Worthington neighbourhood. Most surrounding houses were built in the mid-1960s, so this property offers a more modern structure without being in a brand-new subdivision.
The assessed value is $367,000, which is above the neighbourhood average of $315,300 (top 23%) but below the citywide average of $390,100. This suggests the home is priced at a premium for its immediate area, likely reflecting its newer construction, but still sits below the broader Winnipeg market’s typical value.
The living area is slightly under the neighbourhood median and well under the citywide median, and the lot is on the smaller side—bottom 10% on the street and bottom 25% in the area. That means less outdoor space and a compact footprint, but also less maintenance.
Appeal lies in getting a relatively new home in an established, older neighbourhood. Buyers avoid the quirks and potential updates that come with a 60-year-old house but still get a mature street with established trees and neighbours.
Likely buyers: First-time homeowners who want something move-in ready with no major renovations needed, or downsizers who value a newer, efficient home over a large yard. Less suited for someone wanting a big lot or a sprawling layout.
Section 2: Frequently Asked Questions
1. How does the property’s size compare to other homes in the area?
The home is 1,008 square feet, which is slightly smaller than the neighbourhood average of 1,082 square feet and noticeably smaller than the citywide average of 1,342 square feet. The lot is also small for the area—4,487 square feet versus the neighbourhood average of 7,831. The trade-off is less upkeep and a newer build.
2. Why is the assessed value above the neighbourhood average but below the citywide average?
The neighbourhood (Worthington) has many older homes with lower assessed values, so a 2001 home naturally ranks higher there. Citywide, the average includes many larger or more central properties, so this home falls closer to the middle. In short, it’s an above-average property for its immediate area but an average one for the whole city.
3. Is the home considered a good value for a first-time buyer?
That depends on priorities. If you want a home that’s newer, needs less immediate work, and is in a stable, older neighbourhood, the premium over the area’s average value is reasonable. If you prioritize square footage or a large yard for the price, other homes in the area may offer more space for less money.
4. What does the “top 6%” ranking for year built actually mean?
Out of 811 comparable homes in Worthington, only 48 are newer than this one. In a neighbourhood where most homes were built in the early 1960s, this house is part of a small minority of recent builds. That means modern construction standards, better insulation likely, and fewer immediate repair concerns.
5. How does the small lot affect resale potential?
Smaller lots can limit appeal for buyers who want gardens, sheds, or room for kids to play. But they also appeal to people seeking low-maintenance living. In an older, tight-knit street like St George Road, a smaller lot is not unusual, and the newer house may offset any lot-size concerns for future buyers who prioritize the structure over the land.