717-1355 Lee Boulevard

Property Overview

This 913 sqft condo at 717-1355 Lee Boulevard in Fairfield Park presents a modern, low-maintenance living option in Winnipeg. Built in 2018, it is notably newer than most homes in its immediate area and across the city. The property appeals to those seeking a contemporary residence without the upkeep of a house, particularly first-time buyers, downsizers, or investors. Its assessed value sits above average for the street but is competitive within the broader neighbourhood and city, suggesting a solid entry point into a well-established area. The recent sale in June 2024 at the assessed value of $270,000 indicates a stable, transparent market valuation.

Key Characteristics & Appeal

The primary appeal lies in its modern age within a mature neighbourhood. As a 2018 build, it offers newer construction benefits like modern building standards, fixtures, and likely greater energy efficiency compared to the area's older housing stock. The condo format provides a turnkey, low-maintenance lifestyle. Its living space is practical and ranks around the citywide average, suitable for individuals, couples, or small families.

This property would suit a practical buyer who values modern interiors and freedom from yard work or major exterior repairs. It’s a strong match for a first-time buyer stepping into the market with a clear, recently validated price point. It also fits downsizers from larger local homes who wish to stay in the Fairfield Park area but in a more manageable property. An investor might see value in the relatively new build, which could mean fewer immediate capital expenditures, and its appeal to renters desiring a newer unit.

A less obvious perspective is its positional context: while the unit itself is new, being surrounded by properties of similar age (as indicated by the nearby addresses on Lee Boulevard) can create a cohesive, modern micro-community within the older neighbourhood. Additionally, its assessed value ranking higher on its street than in the city suggests it's a premium property on Lee Boulevard, but one that becomes more average and competitively priced when viewed against the wider Winnipeg market.

Frequently Asked Questions

1. What are the condo fees, and what do they cover?
This information is not provided in the public data. A buyer must request the condo corporation’s financial statements and bylaws to understand the monthly fees and included amenities (like snow removal, building insurance, or common area maintenance).

2. How does the 2024 sale price compare to the assessed value?
The property sold in June 2024 for $270,000, which matches its current assessed value exactly. This suggests the market transaction validated the city's assessment, indicating a stable and transparent valuation.

3. Is the property significantly newer than its neighbours?
Yes. Built in 2018, it ranks in the top 1% for year built within both its immediate street and the broader Fairfield Park area. This makes it a distinctly modern property in an established neighbourhood.

4. What does the "Top X%" ranking for Living Area mean?
With a living area of 913 sqft, this condo is larger than approximately 59% of comparable properties citywide, placing it solidly in the average range. It is a comfortably sized unit but not exceptionally large.

5. Why is the assessed value ranking so different when comparing the street to the city?
The property ranks in the top 84% (meaning it's more valuable than most) on its own street, but only the top 37% citywide. This indicates that Lee Boulevard and Fairfield Park generally have homes with lower assessed values, so this condo is a higher-value property on its block, but a more average one when compared to the entire Winnipeg market.