Property Overview: 468 Neil Avenue, Winnipeg

Key Characteristics & Appeal

This 1,057 sqft bungalow, built in 1955, presents a compelling opportunity in the Munroe West neighborhood. Its primary appeal lies in the exceptional land size—an 8,035 sqft lot that ranks in the top 1% for the area, offering rare potential for expansion, gardening, or outdoor space. While the living space is modest and typical for the street, the property holds a strong assessed value of $346k, placing it in the top 5% of Munroe West, suggesting a solid foundation of perceived worth.

The home suits two main types of buyers. First, the value-driven investor or homeowner who sees the underlying asset: a large, desirable lot in a well-established area, where the land itself may hold more future potential than the current structure. Second, it appeals to those seeking a foothold in a neighborhood where the property's value metrics significantly outpace the area average, indicating a potentially good entry point. A thoughtful perspective is that while the home is newer than most on its street, its 1955 build date still means modern buyers should budget for updates consistent with a home of that era.

Frequently Asked Questions

1. How does the sold price compare to the assessed value?
The home sold between $350k-$400k in early 2022. The current assessed value of $346k sits within that range, indicating the assessment is grounded in recent market activity.

2. Is the house small for the neighborhood?
The living area is slightly below the average for Neil Avenue but is actually above average for the wider Munroe West area. This suggests the street may have larger homes, but the property is reasonably sized for the community.

3. What does the "Elite" ranking for the lot size mean?
With a lot size in the top 1% for Munroe West, this property has a significantly larger yard than most homes in the area. This is its most standout feature and a key differentiator.

4. The home is assessed in the top 5% for the area—does that mean taxes are high?
While a higher assessment can influence property taxes, it also strongly reflects the property's market value relative to its neighbors. The "Elite" lot size is a major contributor to this valuation.

5. Where can I see more detailed data for nearby homes?
You can open the dedicated neighbourhood analysis page for this property to view an interactive map comparing year built, living area, assessed value, and lot size with immediate neighbors.