61 Lyra Gate – Property Summary

Key Characteristics & Buyer Profile

This home is a 2018 build with 1,044 square feet of living space on a 1,930-square-foot lot. Its assessed value sits at $296,000. What stands out most is the year built: it ranks #1 on the street and in the top 4% city-wide. In a market where the average Winnipeg home was built in 1966, this property offers genuinely modern construction—not just a recent renovation.

The appeal here is subtle. The home is smaller than both the neighborhood and city averages by a notable margin, and its assessed value is below the median on its own street. For a buyer who prioritizes newer systems, insulation, and lower maintenance over square footage, this trade-off makes sense. The land area is also compact, which could be a plus for someone who wants a manageable yard rather than a large lot to maintain.

This property would suit first-time buyers looking for a move-in-ready home with modern efficiency, or downsizers who want newer construction without paying for extra space they won't use. It may also appeal to investors targeting the entry-level rental market, where newer builds often mean fewer immediate capital expenses. Buyers should not expect a bargain relative to the street—the assessed value is below average, but the newness carries a premium in resale perception.

Five Possible FAQs

1. Why is the assessed value below the street and neighborhood averages if the home is brand new?
The assessed value reflects both the home's condition and the market value of similar properties. While the year built is a strength, the living area is notably smaller than both the street average (1,232 sqft) and the neighborhood average (1,591 sqft). A smaller footprint keeps the assessed value lower, even with modern finishes.

2. How does a "top 4%" city-wide ranking for year built actually matter in day-to-day living?
A newer home typically means better energy efficiency, updated building codes, and fewer immediate repairs. You're less likely to face issues like outdated wiring, inefficient windows, or aging HVAC systems within the first decade. It also means the home's interior layout likely reflects current preferences, which can simplify renovations or resale later.

3. The land area is in the bottom 1% city-wide. Is that a red flag?
It depends on your needs. A 1,930-square-foot lot is compact, especially compared to Winnipeg's city-wide average of 6,570 sqft. For someone who dislikes yard work or wants a more walkable urban feel, this is a feature. But if you plan to add a garage, garden, or have children who need outdoor space, you may find the lot restrictive.

4. This home ranks #1 on its street for year built. Does that mean it's the most desirable house on the block?
Not necessarily. Newness is one factor among many. On a street where all homes were built in 2018, a #1 ranking might come down to a matter of months. More importantly, the home is ranked near the bottom for assessed value on that same street, suggesting other homes may have larger living areas or bigger lots that command higher prices.

5. How reliable are the "top X%" rankings when the neighborhood has a very specific industrial designation?
The "West Kildonan Industrial" category likely includes a mix of residential and commercial properties, which can skew averages. The street-level and city-wide comparisons are more straightforward. The neighborhood ranking should be taken as a rough reference—it tells you this property falls below the area median, but the area itself may not be a typical residential suburb. If possible, visit the block and talk to current residents to get a feel for the actual character.