23 Ara Way – Property Summary

Key Characteristics & Buyer Profile

This is a brand-new home (built 2024) in Winnipeg’s West Kildonan Industrial area. At 1,617 square feet of living space on a 4,028-square-foot lot, it’s not the biggest house on its street—but it outperforms most homes across the city. Citywide, it ranks in the top 25% for living area and the top 25% for assessed value. The assessed value sits at $467,000, which is slightly below the street average but above the neighborhood and city averages.

The appeal here is less about standout size or lot and more about newness and relative value. The home is among the newest 1% of properties in Winnipeg. That gives it modern construction standards, likely better energy efficiency, and lower immediate maintenance risk compared to the city’s median home (built 1966). The land area is modest by city standards—below average citywide—so this isn’t suited for buyers wanting a large yard or expansion room.

This property suits buyers who prioritize a move-in-ready, low-maintenance home in a developing area, who are comfortable with a smaller lot, and who see value in a newer build that compares well to older stock across the city. It may also appeal to someone who wants to avoid the premium of the most expensive homes on the street while still getting a recent build.

Frequently Asked Questions

1. How does this home compare to others on the same street?
On Ara Way, this home has below-average living area and assessed value compared to its immediate neighbors. It ranks 11th out of 15 for square footage and 14th out of 15 for value. However, it’s tied for newest construction on the street, as all homes appear to be built in 2024.

2. Is the assessed value of $467,000 realistic for the area?
Yes. The neighborhood average assessed value is $442,900, so this property sits about $24,000 above that. Citywide, it’s well above average ($390,100). The street average is higher ($509,800), but that likely reflects a few larger or more upgraded homes pulling the number up.

3. How big is the lot, and is that typical?
The lot is 4,028 square feet. That’s slightly below the street average (4,225 sqft) and about average for the neighborhood. Citywide, it’s smaller than 74% of comparable homes, which often have lots over 6,500 square feet. This is a compact urban lot.

4. What does “Top 1% citywide” for year built mean for resale value?
Being among the newest homes in Winnipeg can be a selling point, but it doesn’t guarantee above-average appreciation. Newer homes typically require fewer immediate repairs and may appeal to buyers who want modern layouts. In a city with a large stock of older homes, this can help it stand out. However, as the home ages, relative newness fades as a differentiator.

5. Should I compare this property primarily to the street, neighborhood, or city?
Each perspective gives useful but different information. The street comparison shows how it stacks against its direct neighbors—here, it’s on the lower end. The neighborhood comparison shows it as roughly average. The city comparison shows it as above average in size, value, and newness. Most buyers will find the citywide and neighborhood data most relevant for assessing long-term value, while the street data matters more for immediate resale context.