Is a $159,900 top-floor condo at Kenaston Village a good option for a first-time home buyer in Winnipeg, or for someone looking for an investment property in Winnipeg?

For many buyers, yes. At $159,900, this pet-friendly, top-floor one-bedroom with a private balcony can be bought with as little as $7,995 down as your home, or about $31,980 down as a rental. It also sits minutes from Naawi-Oodena, the mixed-use community taking shape on the former Kapyong Barracks lands.

Why This Unit Works for a First-Time Home Buyer in Winnipeg

If you're a first-time home buyer in Winnipeg, your biggest questions are usually about cost, upkeep, and whether the space fits your life. Here's what makes this one stand out:

Top-floor location. No one walking around above you - one of the most requested features I hear from condo buyers.
Private balcony. Your own outdoor space for morning coffee, a few planters, or a summer evening outside.
One-bedroom layout. Easy to furnish, easy to maintain, and right-sized for your first place.
Pet-friendly. Cats and dogs of all sizes are welcome, so you don't have to choose between owning your first home and keeping your four-legged roommate.

As a River Heights Realtor, I often work with buyers who want to stop renting but aren't ready for a full house with a roof, a yard, and a driveway to shovel. A condo like this lets you start building equity without that added workload.

The Numbers: 5% Down or 20% Down

At a list price of $159,900, here's what the down payment looks like:

Your plan Down payment Amount

Living in it (first-time buyer) 5% $7,995

Buying it as a rental 20% $31,980

If you plan to live in it, you may qualify with as little as 5% down. With less than 20% down, mortgage default insurance applies, and that premium is typically added to your mortgage.

If you're buying it as a rental, plan on at least 20% down. That's still well within reach compared to most investment properties in Winnipeg, and the lower entry price leaves room in your budget for reserves.

Either way, talk to a mortgage professional of your choice to get pre-approved and see your exact monthly costs.

Life at Kenaston Village

Kenaston Village at 470 Kenaston Boulevard is an established condominium community built in 1977. As a resident, you have access to:

An in-ground outdoor pool
Pickleball courts, perfect for one of the fastest-growing sports around
A clubhouse-style recreation room
Visitor parking
On-site laundry facilities

Pet-Friendly Living: Cats and Dogs of All Sizes Welcome

Finding a condo that truly welcomes pets can be a challenge in Winnipeg, especially one with no dog size limits. At Kenaston Village, we welcome cats and dogs of all sizes.

That's a big deal whether you're moving in with your own pet or renting the unit out. Many renters have pets, so a pet-friendly building opens your unit up to more potential tenants.

Simple, Predictable Monthly Costs

One of the biggest perks here is how much your condo fees cover. Your water, landscaping, snow removal, and professional management are all included.

That means the only utilities you pay on your own are electricity and internet/TV. No surprise water bills, no shovelling, and no hiring someone to cut the grass.

For a first-time buyer, that makes budgeting easy. For an investor, it means fewer variable costs and simpler cash-flow planning.

A Location Between River Heights and Tuxedo

You're right on Kenaston Boulevard, one of Winnipeg's main north-south routes, with quick access to transit, shopping, and restaurants, plus an easy drive toward downtown, Polo Park, or Kenaston Common to the south.

You also get the established, tree-lined character of River Heights, with Tuxedo and Assiniboine Park close by.

Naawi-Oodena: The Future of the Former Kapyong Barracks

Just along Kenaston Boulevard, Naawi-Oodena is transforming the former Kapyong Barracks into a new mixed-use neighbourhood. The roughly 160-acre site was returned to the seven Treaty One First Nations and officially became Canada's largest urban reserve in December 2022.

The plan blends residential, commercial, cultural, and recreational spaces in one community. Here's what's happening:

Commercial is already open. The first business on the site, Oodena Gas & Convenience, opened in June 2025.
A business park is underway. "Block A" at Kenaston and Taylor is planned to include about 130,000 sq. ft. of commercial space plus a 95,000 sq. ft. commercial centre, with completion targeted for 2028.
New homes are coming. Endayaan Omaa ("Home is Here"), a 10-storey, 260-unit apartment building, received $91 million in federal funding in March 2026 and is expected to be complete in 2028.
The long-term vision is big. The master plan anticipates about 5,000 homes over time, alongside shops, services, and community spaces.

For you, that means new shopping, services, and amenities planned close to home, and a neighbourhood with significant investment headed its way.

Is This a Good Investment Property in Winnipeg?

If you're looking for an investment property in Winnipeg, a one-bedroom condo at this price point checks several boxes:

Low entry point. At $159,900, your 20% down payment is about $31,980.
Low owner-paid utilities. With water included, electricity and internet/TV are the only utilities to account for.
Pet-friendly. Welcoming cats and dogs of all sizes helps your unit appeal to more renters.
Renter appeal. One-bedroom units on a major route with transit nearby, plus a pool and pickleball courts, tend to attract a wide pool of renters.
Area growth. Thousands of planned homes and new commercial space at Naawi-Oodena are bringing activity to the area.
Rental bylaws. Every condo corporation has its own leasing rules. I'll help you review the bylaws before you commit.

As with any investment, run your own numbers on expected rent, condo fees, taxes, and financing before deciding.

The Takeaway

Whether you're a first-time home buyer in Winnipeg ready to own with $7,995 down, or an investor looking for an investment property in Winnipeg at an accessible price, this top-floor one-bedroom at 470 Kenaston delivers: a private balcony, a pet-friendly building for cats and dogs of all sizes, a pool and pickleball courts, condo fees that cover your water, landscaping, snow removal, and management, and a close-up view of the growth at Naawi-Oodena on the former Kapyong Barracks site.

Book Your Private Showing

Want to see it in person? Reach out to me, Nicole, your River Heights Realtor, to book a private showing at 470 Kenaston. I'll walk you through the unit, the condo documents, and what Naawi-Oodena's growth could mean for you.

Book Your Showing

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