Property Overview

This is a 1,116-square-foot home on a 4,157-square-foot lot in Transcona North, Winnipeg. The key characteristic that stands out immediately is the living area ranking: it places in the top 0% on its street and the bottom 1% in both its area and citywide. This means the home is significantly smaller than nearby houses in Transcona North and Winnipeg as a whole, but it's the largest or among the largest on Mosaic Street specifically. The assessed value mirrors this pattern—strong relative to the immediate street, but low in the broader context.

The land area tells a different story: it ranks top 0% on the street, bottom 38% in the area, and bottom 28% citywide. So the lot is generous for the street but slightly undersized compared to the neighbourhood and city averages.

The appeal here is for a buyer who wants a smaller, possibly more manageable home on a decent lot, within a street where the house doesn't feel out of place size-wise, but without paying a premium for a larger house that dominates the block. It could also suit someone looking for a starter home with room to expand or redevelop later, given the lot isn't tiny. The home likely sits among larger properties nearby, which might mean less privacy or more noise from neighbours, but also potentially lower property taxes relative to those larger homes.

This property would suit a first-time buyer, a downsizer who doesn't need space but wants a yard, or an investor eyeing long-term land value in a city-wide bottom-tier area where redevelopment pressure could be low now but worth monitoring.

Five Possible FAQs

1. Why is the assessed value ranked top 0% on the street but bottom 1% citywide?
Assessed value is relative to the comparison group. On Mosaic Street, this home is among the highest-valued, likely because it's one of the larger houses on that specific street. Across all of Winnipeg, its value is very low, which reflects the smaller living area and possibly older construction compared to citywide averages.

2. Does the bottom 1% citywide ranking for living area mean the house is tiny?
Yes, in the context of the whole city, 1,116 square feet is well below the median. But "tiny" depends on your needs. It's roughly the size of a typical two-bedroom bungalow or a small three-bedroom. On its own street, it's actually one of the larger homes.

3. How does the land area ranking affect future redevelopment potential?
A 4,157-square-foot lot is roughly 40 feet by 100 feet—a fairly standard urban lot in older Winnipeg neighbourhoods. The bottom 38% area ranking means most lots in Transcona North are larger, so you might have less flexibility for a major addition or duplex without a variance. Citywide, the lot is still in the bottom third, so it's not considered large by any means.

4. What does the "Elite" label next to the living area and land area mean?
It's a tiered ranking system where "Elite" is the highest tier. This property earns that label because it's among the best on its street for both living area and land area. The color coding (red/blue/amber/gray) and fill length on the bar indicate relative standing within the comparison group—in this case, both are near 100% fill on the street level, meaning it outperforms nearly all neighbours.

5. Should I worry about being in the bottom 1% for assessed value citywide?
Not necessarily. A low citywide assessed value usually means lower property taxes, which can be a financial advantage. The downside is that resale value may appreciate more slowly if the neighbourhood overall is low-value and not gentrifying quickly. The home's strong street-level performance suggests it's a good value within its immediate context, but don't expect it to match citywide price trends.