Property Overview: 367 Reg Wyatt Way, Grassie, Winnipeg

Section 1: Key Characteristics & Appeal

This is a well-maintained, modern bungalow built in 2007, offering a practical and manageable footprint. Its key characteristics include 1,264 sqft of living space, an attached garage, and a full (unrenovated) basement on a 4,174 sqft lot. The home’s assessed value of $440k is notably above average for Winnipeg overall, but it sits at a more accessible price point within its own desirable Grassie neighbourhood and on its specific street. This creates a unique value proposition: you’re acquiring a relatively newer home in a established area without the premium typically attached to the largest properties on the block.

The appeal lies in its efficiency and location. It’s a turn-key property for those seeking a low-maintenance, single-level layout without the concerns of an older home. It would suit first-time buyers looking for a modern entry into a stable community, downsizers wanting to simplify without compromising on the age of their home, or pragmatic investors seeking a property with minimal upkeep. A less obvious perspective is that its smaller lot and living area, while below neighbourhood averages, translate to lower utility costs and less yard work, appealing to those prioritizing their time and ongoing expenses over sheer space.

Section 2: Frequently Asked Questions

1. Is the assessed value accurate given the sold price history from 2017?
Yes, this is a common point of confusion. The 2017 sale price (shown as a range around ~$34k) reflects a nominal, likely non-arms-length transaction (such as a title transfer between family members) and not the market value. The current $440k assessment is a much more accurate reflection of its municipal valuation for taxation and is aligned with broader city-wide market trends.

2. How does this home compare to others on the street and in Grassie?
The data shows this home is more compact than most in its immediate vicinity. On Reg Wyatt Way, it ranks in the bottom 5% for living area and land size, meaning neighbouring properties are typically larger. In the wider Grassie area, it’s closer to average for its age but still on the more modest side for space. This is the trade-off for its modern construction and relative value.

3. What does "basement, not renovated" imply?
It indicates the lower level is unfinished or in its original builder-grade state. This presents a blank canvas for future expansion or storage, but any development would require additional investment. It’s a positive for buyers wanting to customize the space to their needs later.

4. Who determines these rankings and what do they mean?
The rankings are generated by comparing this home’s specific metrics (like square footage or assessed value) against all other similar properties in the defined geographic group (street, neighbourhood, or city). A "Top 95%" rank for living area on its street means 95% of comparable homes on Reg Wyatt Way are larger. It’s a tool for understanding where the property sits in a specific market context.

5. Why is the city-wide assessment ranking so much stronger than the local ones?
The $440k assessment is above the Winnipeg city-wide average for comparable homes. This suggests that while the home is modest for the Grassie area, the neighbourhood itself commands a premium. You are effectively buying into a sought-after location, with the property itself representing a more attainable option within it.