Property Overview: 55 Mara Place, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 2022, presents a modern, low-maintenance living option in the Fraipont neighbourhood. Its key appeal lies in its balance of being a newer construction with a relatively accessible price point, as reflected in its assessed value. At 1,566 sqft, the living space is above average for Winnipeg overall but is more modest compared to other newer homes in its immediate area. The property includes an attached garage and a basement (not renovated), situated on a smaller, manageable lot.

The home suits first-time buyers or downsizers seeking a modern build without the premium often attached to brand-new properties. It also appeals to value-conscious buyers who prioritize a newer roof, windows, and mechanical systems over expansive square footage or lot size. A thoughtful perspective is that while the lot is smaller relative to the city and street, it translates to less yard work, which can be a desirable feature for busy professionals or those looking to minimize upkeep. Its assessed value ranking suggests it may offer an entry point into a newer neighbourhood where many comparable homes are valued higher.

Section 2: Frequently Asked Questions

1. Is this a good value for a newer home?
The data suggests it is positioned as a value option among newer builds. Its assessed value is above average citywide but below average on its own street, indicating you are paying less than many neighbours for a similarly aged home, albeit often with more living space.

2. What does "basement, not renovated" mean?
The home has a basement, but it is unfinished. This provides blank-canvas storage or future living space, but any development would be an additional project and investment for the buyer.

3. How does the living space compare practically?
At 1,566 sqft, it offers solid space for a small family or couple. It's notably smaller than the average home on Mara Place (~1,949 sqft), so buyers should ensure the layout and room sizes meet their needs compared to other available options in the area.

4. Why is the assessed value so much lower than the citywide average home value?
This can be confusing. The "above average" citywide ranking (Top 26%) is based on its assessed value compared to all Winnipeg homes. The actual average market value of homes citywide is much higher ($390k as noted), but this property's assessed value for taxation purposes is $46.20k. Assessment value is not market price.

5. What are the trade-offs for the lower price and newer build?
The primary trade-offs appear to be a smaller lot size and less interior square footage compared to other homes on the street and in Fraipont. You are gaining modern construction but with less land and space than many neighbouring properties.