197 Private Davy Drive – Property Summary

Key Characteristics & Buyer Profile

This is a newly built home (2024) in the Peguis neighborhood of Winnipeg, with a living area of 1,833 square feet—larger than both the average for its street and the citywide median. The assessed value sits at $47,000, which is notably low compared to street, neighborhood, and city averages (roughly $390,000–$517,000). The land area is 3,779 square feet, slightly smaller than typical for the street and well below neighborhood and city medians.

The appeal here is a mixed bag. The home itself is recent and spacious inside, which will attract buyers who want modern finishes and square footage without an older floor plan. However, the extremely low assessed value relative to surrounding properties suggests this may be a newer infill or a property with a unique valuation situation—possibly a vacant lot with recent construction, a legal non-conforming structure, or a data anomaly. The land is on the smaller side, which might not suit buyers looking for a large yard or future expansion space.

This property would likely suit a first-time buyer or someone looking for a newer, efficiently sized home in a well-established area without paying for a large lot. It may also appeal to investors or flippers if the low assessed value translates into a lower purchase price, though that's not guaranteed from this data alone. It’s less ideal for families who prioritize outdoor space or for anyone seeking a property with strong land value appreciation potential.

Five Possible FAQs

1. Why is the assessed value so low compared to the neighborhood average?
The assessed value of $47,000 is dramatically below the neighborhood median of $488,300. This could indicate the property is a vacant lot with a recently completed home not yet reassessed, or it may reflect a legal non-conforming structure or a data error. It’s worth verifying with the municipal assessment office or a local real estate agent before drawing conclusions.

2. How does the living area compare to other homes on the street?
At 1,833 square feet, this home is larger than the street average (also 1,833 sqft, so it's exactly average for this street) and significantly above both the area and citywide medians. It’s a comfortably sized home for a couple or small family.

3. Is the land size a concern?
The 3,779 sqft lot is slightly below the street average of 4,152 sqft, and well below the neighborhood (5,966 sqft) and citywide (6,570 sqft) averages. If you value a larger yard or potential for additions, this may feel tight. However, many newer infill homes in established areas have smaller lots, so this is not unusual for a recent build.

4. Is this property a good investment?
That depends. The low assessed value could mean a lower purchase price, which might offer equity upside if the home is reassessed higher soon. But the smaller lot and below-average land value relative to the area suggest long-term land appreciation may be limited. It’s more of a lifestyle purchase than a land-banking investment.

5. What does the ranking “Top 100%” mean for assessed value?
It means the property ranks in the bottom tier for assessed value—essentially at the very low end compared to similar homes on the street, in the neighborhood, and citywide. The “Top 100%” phrasing is a bit misleading; it indicates it’s below average in all scopes, not that it’s performing well.