468 Manitoba Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,080 sqft home built in 2003, sitting on a 3,482 sqft lot in the William Whyte neighbourhood of Winnipeg. Its most standout feature is its age: built in 2003, it ranks in the top 10% for newness on its street and neighbourhood, and top 16% citywide—a notable advantage in an area where many homes date back to the 1940s. The assessed value of $205,000 sits well above the neighbourhood average of $149,100 (top 15%), which largely reflects its newer construction, not necessarily a premium location or oversized lot.

The appeal here is straightforward: it offers a relatively modern, move-in-ready home in an older, more affordable inner-city neighbourhood, without the renovation headaches common to older stock. The living area is close to the street and neighbourhood average—nothing remarkable, but functional. The land area is below average on the street and citywide, which means a modest yard. That could be a plus for someone who doesn’t want a large lot to maintain, or a downside for those hoping for garden space or expansion.

This property would suit first-time buyers looking for something newer in an established, more budget-friendly part of town, or investors after a low-maintenance rental in a neighbourhood with below-city-average assessments. It’s less suited for buyers seeking character, a large lot, or a quick equity gain from renovations.

Frequently Asked Questions

1. Is this a good deal compared to other homes on the street?
It depends on what you value. On Manitoba Avenue, the assessed value is roughly in the middle (top 48%), and the home is significantly newer than most neighbours. You’re paying a reasonable price for the age and condition, but not getting a bargain relative to the street’s average. The value lies in avoiding older-home issues, not in getting a low price per square foot.

2. Why is the assessed value so much higher than the neighbourhood average?
Because the neighbourhood average is pulled down by many older, smaller, or less maintained homes. This property is newer, which typically leads to a higher assessment. The citywide comparison shows it below average ($205k vs. $390k), reflecting that William Whyte is a lower-cost area overall.

3. How does a newer build affect insurance and maintenance costs?
Generally, insurance is lower for newer construction due to updated wiring, plumbing, and roofing. Maintenance costs should also be lower for the first decade or two, but check the specific mechanicals—while the home is from 2003, a 20-year-old furnace or water heater may need replacement soon. Don’t assume “newer” means “nothing to fix.”

4. Is the small lot a problem for resale?
It depends on the buyer pool. In the William Whyte neighbourhood, the lot is actually around average (top 33%). Citywide, it’s on the smaller side. If your future buyer is someone looking for a low-maintenance yard, it’s fine. If they want space for a garage, garden, or addition, the lot could be a limitation.

5. How does this home compare to other 2000s-era houses in Winnipeg?
Generally well. Most homes built in the early 2000s across the city were on larger lots, so this one is smaller in land size than typical. But the living area is close to the city average for comparable homes. It’s not a standout in size, but it’s consistent with what many buyers expect from that era—practical, not oversized.