508 North Point Boulevard

Key Characteristics & Buyer Profile

This 1,213-square-foot home, built in 2023, presents a specific trade-off: it offers a very new, low-maintenance structure on a compact lot in an established area. Its strongest selling point is its year. The home ranks in the top 1% city-wide for newness, meaning the mechanicals, roof, and finishes are essentially untouched. This contrasts sharply with the neighborhood and city averages, which skew toward homes from the 1960s and 1970s.

The appeal is subtle. It isn’t a showy or oversized property. The living area (1,213 sqft) is small relative to other homes on its street and in the West Kildonan Industrial neighborhood, where the averages are 1,404 sqft and 1,591 sqft respectively. Buyers should expect modestly proportioned rooms, not sprawling space. The assessed value of $349,000 is also below the street and neighborhood averages ($375k and $442k), reflecting the smaller square footage. The land area is modest at 2,676 sqft—competitive on the street but small by broader city standards, where the average lot is 6,570 sqft.

This property best suits a buyer who prizes “turnkey” condition over square footage or a large yard. It’s a strong match for someone downsizing from an older, larger home who no longer wants renovation projects or extensive yard work. It could also appeal to a first-time buyer who wants modern construction without paying a premium for extra space they don’t need. It is less suitable for a family seeking generous room sizes or a large outdoor area.

Frequently Asked Questions

1. The living area is small compared to the neighborhood. How noticeable is that in practice?
The home is roughly 300–400 square feet smaller than the typical house on the street and in the area. That difference often translates to one fewer bedroom or a smaller living room and kitchen footprint. It’s best to view the floor plan carefully, as the total square footage suggests a more compact layout than the homes around it.

2. The assessed value is $349k. Is that a fair reflection of market price?
Assessed value is a lagging indicator used for property taxes, not a current market appraisal. This home is brand new (2023), so its assessed value likely reflects recent construction costs and comparable sales. It is lower than the street average ($375k) because the house itself is smaller. For a current market estimate, you’d need to look at recent sale prices for similar new builds on smaller lots.

3. Why is the lot size ranked so low city-wide (top 93%)?
The city-wide average lot size in Winnipeg is 6,570 square feet, reflecting many older, larger lots. This property’s 2,676 sqft lot is typical of newer infill or subdivision builds, which prioritize efficient land use and lower maintenance. If you are used to a big, deep backyard, this will feel noticeably smaller.

4. How does the “new build” status affect long-term costs?
The home likely has a new roof, furnace, AC, appliances, and windows, which means minimal immediate repair or replacement costs. However, in a newer development or on a newer street, there could be higher initial property taxes compared to an older home with a similar assessed value. You also trade the “character” and potentially larger rooms of an older home for energy efficiency and modern finishes.

5. What is the neighborhood like for resale value?
The home is in West Kildonan Industrial, a mixed-use area. While the street ranking for value is below average relative to immediate neighbors, the house is newer than almost anything around it. Resale value will depend on whether the local market continues to value newer, smaller homes over larger, older ones. Its uniqueness in the area is both an asset (rare product) and a risk (limited comparables).