Property Overview & Key Characteristics
This is a modern, compact property built in 2021, located at 118-155 Peguis Street in Winnipeg's Peguis neighbourhood. Its primary appeal lies in its new construction, offering a low-maintenance lifestyle in a highly regarded area. With a modest 674 sqft living area and no basement, garage, or pool, it represents an efficient, entry-level housing option.
The home’s standout feature is its exceptional location ranking—it sits in the top tier (top 3%) on its street and is ranked #1 out of over 1,600 properties in the wider Peguis neighbourhood for area. This suggests a premium spot within a desirable community. Its assessed value of $20,200 is notably low, especially when compared to nearby reference homes, which are larger and assessed from $33,900 to over $54,000. This combination of a prime location, new build, and low property tax base creates a unique value proposition.
This property would best suit a first-time buyer, an investor looking for a low-cost rental unit, or a downsizer seeking a modern, easy-to-manage home without sacrificing a top-tier neighbourhood address. It’s a practical choice for those who prioritize location and newer infrastructure over square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is primarily based on the property's specific characteristics—namely its smaller size (674 sqft) and lack of additional features like a basement or garage. Compared to the larger single-family homes referenced, this is a more compact unit, which is directly reflected in its lower valuation and, consequently, its property taxes.
2. What does the #1 neighbourhood ranking for "area" actually mean?
This ranking indicates that, based on the platform's metrics, this specific property's lot or location within Peguis is considered the most desirable out of 1,619 listings. It doesn't refer to the home's size, but rather to the perceived quality and appeal of its particular plot or position in the community.
3. Is this a standalone house or a unit within a larger building?
The address format (118-155) and the lack of a private garage or land area listing strongly suggest this is a condominium or townhouse-style unit within a multi-unit building or complex, offering shared exterior maintenance.
4. Given its small size, what is the realistic use for this property?
It's ideal for a single person or a couple. Its modern construction (2021) means fewer immediate repair concerns, and the efficient layout minimizes upkeep. It could also serve as a strategic investment property, as the low carrying costs and desirable location may attract steady rental interest.
5. How does the 2021 sale price compare to today's value?
The property sold for $19,700 in July 2021, very close to its current $20,200 assessed value. This indicates relative price stability in its market segment over the past few years, unlike some properties that have seen significant appreciation. It presents a known, steady value history.