Property Overview: 78 Raphael Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Fairfield Park is defined by its generous scale and modern foundation. Built in 2008, it offers nearly 2,900 sqft of living space, placing it within the top tier of homes locally. Its most distinctive feature is the expansive 17,941 sqft lot, which is exceptionally large for the area, offering significant privacy and potential for outdoor living, gardens, or future additions.

The appeal lies in acquiring a relatively modern home that avoids the common compromises of newer subdivisions. You get a substantial, updated residence on a mature, oversized lot—a combination that is increasingly rare. With an attached garage and a renovated basement, it is a turnkey property for a large or growing household.

This home would best suit buyers who prioritize space and land over a downtown-adjacent location. It’s ideal for families seeking room to spread out, for entertainers who value a large yard, and for long-term buyers who appreciate that the lot size is a permanent asset that future construction in the area cannot replicate.

Section 2: Frequently Asked Questions

1. How does the assessed value relate to the recent sale price?
The home sold for $910,000 in September 2023. Its assessed value for taxation purposes is significantly lower at $88,900. This is normal; municipal assessments in Manitoba are not intended to reflect market value and typically lag far behind actual sale prices.

2. What does the "Elite" and "Top X%" ranking mean for the lot size?
The data shows the lot is in the top 1% of Fairfield Park and top 2% city-wide for size. This isn't just a big yard; it means the property offers a level of land ownership that is uncommon in Winnipeg, providing a rare sense of openness and possibility within the city.

3. Is the home’s 2008 build date an advantage?
Yes. It means major components like the roof, windows, and mechanical systems are likely still within their typical lifespan, reducing immediate capital risk. It also suggests a modern floor plan, while being built in an established neighborhood with mature trees and landscaping—a best-of-both-worlds scenario.

4. The home ranks highly for living area. What does that imply?
With living area in the top 3% of the neighborhood and top 1% city-wide, this confirms the home is genuinely spacious. It’s not just the number of rooms, but the overall volume and scale that exceed the norm, offering a feeling of ample living space that is hard to find.

5. Who might this property not be suited for?
It may not suit those seeking a low-maintenance lifestyle, as a large lot requires upkeep. It’s also less ideal for buyers who prioritize walkability to dense urban amenities, as Fairfield Park is a residential community where driving is typical for daily errands.