500 North Point Boulevard – Property Summary

Key Characteristics & Buyer Profile

This is a 2023-built home with 1,505 square feet of living space on a 2,782-square-foot lot. The standout feature is its age—it ranks in the top 1% city-wide for newer construction in a market where the average home was built in 1966. The assessed value of $407,000 sits above the street average ($375,400) and city-wide average ($390,100), but remains roughly in line with the broader West Kildonan Industrial neighbourhood ($442,900 average), meaning you’re getting a newer home without a neighbourhood premium that pushes it far above local norms.

The living area is slightly above average on the street and city-wide, though the lot is on the smaller side—ranking in the bottom 8% city-wide. That’s typical for newer infill builds in established neighbourhoods, where land is at a premium and homes are designed to maximize interior space on compact lots.

This property would suit buyers who prioritize a move-in-ready, low-maintenance home with modern construction and energy efficiency, rather than a large yard or sprawling lot. It’s a strong fit for first-time buyers, downsizers, or anyone who wants newer finishes without paying for a full custom build on a big parcel. The neighbourhood’s industrial-adjacent setting (West Kildonan Industrial) means it may appeal less to those seeking a quiet, leafy residential street, and more to those who value proximity to major routes and commercial areas.

Frequently Asked Questions

1. How does the assessed value compare to similar newer homes nearby?
The property’s $407,000 assessment is above the street average but below the neighbourhood average of $442,900. That suggests many of the newer homes in West Kildonan Industrial are larger or on bigger lots. This home offers a lower entry point for a 2023 build relative to its immediate area, though it’s not a bargain compared to older stock.

2. Is a 2,782 sqft lot a disadvantage for resale?
Not necessarily. Smaller lots are increasingly common in newer infill developments, and many buyers actively prefer lower-maintenance yards. However, if comparably priced homes in the area sit on larger parcels, you may see slightly slower appreciation relative to land-rich properties. The trade-off is usually lower upfront cost and less upkeep.

3. Why does the neighbourhood ranking show “around average” for both living area and assessed value?
The West Kildonan Industrial area has a wide mix of property types—older homes on large lots, newer townhouses, and infill singles. So a 1,505 sqft home with a $407k assessment lands right in the middle of that range. The home isn’t exceptional within the neighbourhood, but it’s consistently average to above-average across most metrics, which often indicates stable, predictable value.

4. What’s the catch with a top-1% year built ranking?
The main catch is the lot size. Homes built in 2023 often sacrifice yard space to fit into established neighbourhoods. You’re also paying a premium for “new” that may not fully hold if construction quality or finishes are standard rather than upgraded. Always check actual build quality and warranty details rather than relying on age alone.

5. Would this property be good for an investor?
Possibly, but not for land appreciation. Renters often favour newer, low-maintenance homes, and the city-wide ranking suggests strong relative desirability. However, the smaller lot limits future redevelopment potential, and the industrial-adjacent location may cap rent growth compared to fully residential neighbourhoods. It’s best suited for a buy-and-hold rental strategy focused on steady cash flow rather than speculative land value gains.