124 Southbend Crescent – Property Summary

Key Characteristics & Buyer Profile

This is a 1,212 sqft home built in 1989 on a 5,583 sqft lot in the Whyte Ridge neighbourhood of Winnipeg. Its assessed value is $431,000.

The property’s strongest feature is its construction year. It ranks in the top 22% on its street and top 23% citywide for newer builds, meaning most homes nearby or across Winnipeg are older. For a buyer looking for a home that isn't a major fixer-upper, this is a genuine advantage.

Where this property becomes a trade-off is size and value. The living area (1,212 sqft) and assessed value ($431K) are both well below the averages for its own street and neighbourhood. On Southbend Crescent, it’s the lowest-valued home. Citywide, however, its value sits above average (top 32%), reflecting how much more affordable this pocket of the city is compared to the broader market.

The land is average for the area—not notably big or small. There’s no standout lot premium here.

Who it suits: This works best for a buyer who prioritizes a newer home over square footage, and who is comfortable owning the most modest house on a more expensive street. It could appeal to first-time buyers who want a solid, relatively modern home without paying for extra space they don’t need, or to downsizers looking for a low-maintenance property in an established neighbourhood. It may be less ideal for families needing large living areas or someone hoping for strong short-term appreciation, given the below-average value ranking locally.

Frequently Asked Questions

1. Why is the assessed value low compared to other homes on the same street?
The home has a smaller living area (1,212 sqft) than the street average (1,572 sqft), which directly impacts its valuation. It’s the smallest home by square footage on Southbend Crescent by a notable margin, so the lower assessed value reflects that size difference rather than poor condition.

2. Is this a “starter home” or a “forever home”?
Given its modest size and below-average living area relative to the neighbourhood, it leans toward a starter home or a downsizer’s property. The solid year built (1989) means it won’t need immediate major structural updates, but the limited square footage may feel tight for a growing family long term.

3. How does the neighbourhood compare to greater Winnipeg?
Whyte Ridge is a more expensive pocket than the Winnipeg average. This home’s assessed value is above the citywide average ($390K), but it’s near the bottom for its own neighbourhood. That means you get a newer home in a pricier area for roughly the same price as an average citywide home—but you’re getting less space than most of your neighbours.

4. Does the land size offer any flexibility for expansion?
At 5,583 sqft, the lot is slightly smaller than the street average (6,335 sqft) and falls in the middle of the pack for the neighbourhood. It’s not a large lot, so major additions are possible but may be limited by zoning and setback rules. It’s best suited for the existing footprint or modest landscaping improvements.

5. What’s the biggest risk with this property?
The largest risk is resale value relative to street-level comparisons. Since it’s the lowest-valued and smallest home on its street, future appreciation may lag behind larger neighbouring properties unless the market sees a broad uptick. Buyers should plan to hold the home for a longer period to build equity rather than betting on a quick flip.