Property Overview: 501 Stewart Street, Winnipeg

Key Characteristics & Appeal

This 2020-built, one-storey home in Glendale stands out for its modern foundation and generous proportions. Its primary appeal lies in offering a like-new construction without the typical smaller lot size, featuring a significantly larger-than-average living area (1,472 sq ft) and a substantial, private yard (over 9,000 sq ft). The home includes an attached garage and a renovated basement, adding functional space. The data reveals its exceptional standing: it ranks in the top 1% of its immediate area for living space, lot size, assessed value, and year built. This creates a rare package of new-build amenities on an established, spacious lot.

It would ideally suit buyers seeking a modern, low-maintenance home who still value ample outdoor space for gardening, pets, or family play. It’s also a compelling option for those looking for a home with recent major systems (roof, furnace, etc.) to minimize near-term upkeep costs and surprises. A thoughtful perspective is that this property offers the "best of both worlds" – it bypasses the aging infrastructure common in the neighborhood while providing the mature lot size that newer subdivisions often lack.

Frequently Asked Questions

1. Is the assessed value an accurate reflection of the market price?
While the assessed value is in the top 1% for the area, it is primarily used for calculating property taxes. Market price is determined by current buyer demand, recent comparable sales, and the home's specific condition. The assessed value here indicates the municipality views it as a high-value asset in its locale.

2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the seller or agent to understand if it’s a finished living space, a recreational area, or updated utility rooms.

3. The home sold in 2021. Why is it being sold again so soon?
A resale after only a few years is not uncommon and can be due to many neutral factors like a job relocation, changing family needs, or a lifestyle adjustment. The short ownership period makes a thorough review of the property’s history and any work done since 2021 especially important.

4. How does the lot size compare to a typical new build?
The lot is exceptionally large for a 2020-built home. At over 9,000 sq ft, it is nearly 70% larger than the city-wide average lot for comparable homes. This is a defining feature that offers more privacy and space than most newly constructed properties.

5. What are the potential implications of such a high assessed value?
A high assessed value typically translates to higher annual property taxes compared to neighboring homes with similar square footage but older construction dates. This is an important ongoing cost to factor into your budget, though it reflects the property’s modern attributes and desirable condition.