Property Summary: 31 Pegasus Street

Key Characteristics & Buyer Profile

This property is a 2022-built home with 1,695 square feet of living space on a 3,673-square-foot lot. Where it stands out most is its age—it ranks in the top 1% citywide for newer construction, meaning very few homes in Winnipeg are as recent. The living area is above average for both the West Kildonan Industrial neighborhood and the city as a whole, though it’s roughly on par with other homes on Pegasus Street itself.

The lot size tells a different story. It’s the largest on the street (top 7%), but that’s relative: compared to neighborhood and city averages, the lot is actually on the smaller side. The assessed value of $480,000 sits near the middle of the street but above both the neighborhood and city medians.

The appeal here is straightforward: you get a very new house with a decent amount of space, on a street where lots tend to be smaller—so the yard feels generous by local standards, not by citywide ones. This would suit a buyer who prioritizes a modern build and doesn’t need a sprawling lot. It’s a good fit for someone who wants something move-in ready, without the trade-offs that often come with older homes in established neighborhoods. The rankings suggest this property is a strong contender for its age and size, but not necessarily a standout value—it’s fairly priced relative to its street, not a bargain.

FAQs

1. How does the assessed value compare to similar homes nearby?
The assessment is slightly below the street average of $495,500, but above the neighborhood average of $442,900 and the citywide average of $390,100. It’s priced in line with what other homes on Pegasus Street are worth, while being higher than most homes in West Kildonan Industrial.

2. Is the lot size considered small or large for the area?
On Pegasus Street, it’s the largest parcel. But in the broader West Kildonan Industrial neighborhood, it’s about average. Citywide, it’s below the typical lot size—so you’re getting a relatively compact yard by Winnipeg standards, which is common for newer infill builds.

3. What does “top 1% citywide for year built” actually mean?
Of nearly 200,000 comparable properties across Winnipeg, only about 2,800 are newer than this one. Most homes in the city were built much earlier—the citywide average construction year is 1966. This house was built in 2022, so you’re getting modern construction, insulation, and likely fewer immediate maintenance issues.

4. How does this home compare to others on Pegasus Street specifically?
It’s average in living area and assessed value, but ranks first for lot size. The street has 15 comparable homes, most built around the same time (2022). So if you’re looking at this street, the trade-off is more yard versus a price that’s in the middle of the pack.

5. Would this property be a good investment or is it more for personal use?
It leans toward personal use. The home is new, well-sized, and in a neighborhood where values are above city averages. But the lot is small for Winnipeg, and the assessed value isn’t notably low—so it’s not a clear undervalued flip candidate. It’s a solid, low-hassle home for someone planning to stay put for a while, rather than a quick resale play.