31 Exbury Place – Property Summary

Key Characteristics & Buyer Profile

This is a 1987-built home with 1,932 square feet of living space on an 11,741-square-foot lot. The property sits near the middle of its street (Exbury Place) in terms of size, age, and assessed value, but stands out sharply at the community and city levels. Within the Whyte Ridge neighbourhood, it ranks in the top 2% for land size and top 4% for assessed value. City-wide, the lot places in the top 4%, and the living area in the top 13%. The assessed value of $670,000 is well above the citywide average of $390,000, reflecting both the larger-than-average house and the substantial property it sits on.

The appeal lies in the uncommon combination of a spacious interior and a genuinely large lot within an established neighbourhood. The home itself is not new—it's older than most of its neighbours in Whyte Ridge, where the average build year is 1994—but its land size gives it potential that newer, tighter subdivisions often lack. This property would suit buyers who prioritise outdoor space and room to spread out, and who are comfortable with a home that may benefit from updates or personalisation over time. It may also appeal to those who want a strong land asset in a well-regarded area, rather than a turnkey property.

Frequently Asked Questions

1. How does the 1987 build year compare to other homes in the area?
The home was built the same year as the average on Exbury Place, but is older than the Whyte Ridge neighbourhood average (1994). City-wide, it is newer than the average home (1966), so whether it's considered "old" depends on the frame of reference. Within this neighbourhood, it's among the earlier builds.

2. What does the land size actually mean for day-to-day use?
At nearly 12,000 square feet, the lot is roughly twice the size of a typical Whyte Ridge property. This could allow for a large garden, room for children or pets to play, or future additions like a shop or garage—subject to local zoning. It is worth noting that this is not a corner lot or a deep ravine lot; it's a generous standard lot within a street of similarly large properties.

3. Why is the assessed value high relative to the house size?
The assessed value reflects both the house and the land. While the living area is above average, the land is far more exceptional for the area. The assessed value ranking (top 5% city-wide) is driven largely by the lot, not by the house being unusually luxurious or updated.

4. Is the house competitively priced compared to others on Exbury Place?
On the street, the assessed value ranks 4th out of 12 homes, with the street average around $590,000. This property is above that average, but the land and house size are also above the street average. Whether it represents good value depends on how much weight a buyer gives to the lot versus the age and condition of the structure.

5. What should a buyer look out for with a home from this era?
Homes built in the mid-to-late 1980s can vary significantly in terms of mechanical systems, windows, roofing, and insulation. While 1987 is not particularly old by Winnipeg standards, a home of this vintage may have original finishes or systems that are nearing replacement age. A thorough home inspection is advisable, especially for the roof, furnace, and windows. The land, however, is a solid asset that does not depreciate.