Property Overview: 694 Prince Rupert Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 694 Prince Rupert Avenue stands out in Winnipeg’s Munroe East neighbourhood for its modern build and efficient use of space. Built in 2016, it is a notably newer property, ranking in the top 3% on its street and top 1% in the wider area where the average home is decades older. This translates to appealing modern construction, likely requiring less immediate maintenance than older stock.

The 1,368 sqft living area is spacious compared to most local homes, placing it in the top 6% on the street. However, the lot size of 3,804 sqft is more compact than area averages. This creates a specific dynamic: you get a relatively large, modern house on a smaller, manageable parcel. The assessed value is strong for the immediate area, indicating the property is well-regarded in its local market context.

Its appeal lies in this balance. It suits buyers seeking a modern, low-maintenance home without the upkeep of an older character property, and who prioritize interior space over extensive outdoor land. It’s ideal for professionals, small families, or downsizers looking for a newer build in an established neighbourhood without a sprawling yard to manage. A thoughtful perspective is that the compact lot, while below average in size, may contribute to a lower-maintenance lifestyle and potentially lower property taxes relative to homes with larger land assessments.

Section 2: Frequently Asked Questions

1. How does the modern build date (2016) affect this home?
A 2016 build means major systems like roofing, plumbing, and electrical are relatively new and likely built to recent codes. This can offer significant peace of mind and reduced repair costs in the short to medium term compared to the neighbourhood’s predominantly older homes.

2. The lot size is noted as "below average." How significant is this?
The lot is smaller than most in Munroe East and Winnipeg overall. This likely means a smaller backyard and less exterior space. For some, this is a drawback for gardening or outdoor recreation. For others, it means less yard work and a more efficient property layout.

3. The home sold recently (2024). What does the price range indicate?
The reported sale price range of CA$350k–400k suggests strong demand and that the property’s market value aligns with its modern features and above-average living space for the area. It sold at a significant premium to its assessed value, which is common for newer homes.

4. What does it mean that the living area is "above average" but the city-wide comparison is "around average"?
This highlights the character of Munroe East. Homes in this specific area tend to be more modest in size. This property offers more interior space than its immediate neighbours, but is comparable to the typical size of homes across all of Winnipeg. You are getting more house for the neighbourhood.

5. Why is the assessed value so much lower than the city-wide average assessed value shown?
The city-wide average assessed value (shown as $390k) includes all types of homes across all neighbourhoods. The assessed value of this property ($35.70k) is specific to its municipal assessment for tax purposes and is very strong when compared directly to its immediate peers on Prince Rupert Avenue and in Munroe East, where it ranks in the top 5-8%.