Appraising Side-by-Sides and Duplexes in Manitoba

Walk through a newer neighbourhood in Steinbach, Winkler, Morden or many Winnipeg suburbs and you will see plenty of side-by-sides: two homes joined by a shared wall, each with its own entrance, garage and yard. They offer a lower price point than detached homes, often with newer construction and less maintenance. Duplexes, where one owner holds both units, are popular with investors. This article explains how appraisers approach both.

Terminology

Usage varies across Manitoba, but generally:

• a side-by-side is one half of a two-unit building, owned separately from the other half
• a duplex often refers to a whole building containing two units, owned by one person, though people also use the word for side-by-sides
• an up-down duplex has one unit above the other, common in older Winnipeg neighbourhoods

The appraiser confirms exactly what is being appraised and how it is titled.

Freehold versus condominium

Side-by-sides can be titled in two ways. In a freehold side-by-side, each owner holds title to their own half of the building and the land beneath it, often with a party wall agreement. In a condominium side-by-side, the units are part of a condominium corporation with shared common elements, bylaws and usually a monthly fee.

The distinction affects value and marketability. Some buyers prefer freehold because there are no fees or shared decisions. Others like the predictability of a condo corporation handling roofs and exterior maintenance. Appraisers compare side-by-sides with sales of the same title type wherever possible, and adjust when they cannot. See our article on condo appraisals for more on condo factors.

What drives value

• Size and layout. Bedrooms, bathrooms and the usefulness of the floor plan.
• Garage. Single versus double attached garage is a significant difference.
• Lot. Yard size, privacy and whether the unit is on a corner.
• Basement development. Finished lower levels add space and appeal.
• Age and finishes. Newer construction and updated finishes command higher prices.
• Sound separation. Buyers notice how well the shared wall blocks noise.
• The other half. The condition and appearance of the attached unit affect curb appeal.

Comparable sales

The best comparables for a side-by-side are other side-by-sides, ideally in the same development. Detached homes and apartment condos are different markets. In growing communities like Steinbach and Winkler, there are often many side-by-side sales to choose from, which makes the analysis more reliable.

Full duplexes and the income approach

When the appraisal covers an entire duplex owned by one person, investors are often the likely buyers. In that case the appraiser may use the income approach alongside comparable sales: estimating market rent for both units, subtracting vacancy and expenses, and considering how investors price that income. Up-down duplexes in older Winnipeg neighbourhoods are commonly valued this way.

Owner-occupied with a rented side

Some owners live in one side of a duplex and rent the other. Lenders may count part of the rental income when qualifying the borrower. The appraisal may include a market rent estimate for the rented unit. Tell us when you order if rental income is part of your financing.

Strong demand in growing communities

In the Pembina Valley and around Steinbach, side-by-sides have become an important entry point for first-time buyers and newcomers, and a popular choice for downsizers. Strong rental demand also attracts investors. That broad demand has generally supported the side-by-side market, though prices still depend on supply, new construction and interest rates.

Tips for owners

• Know whether your unit is freehold or condominium, and have any party wall or condo documents ready.
• List updates and basement development.
• If you have a condo fee, know the amount and what it covers.
• For rental units, have lease details and rent amounts available.

Common questions from buyers

Buyers often ask whether a side-by-side is a good long-term investment compared with a detached home. Values in both segments follow the broader market, but side-by-sides tend to appeal to a specific set of buyers: first-time purchasers, downsizers and investors. When demand from those groups is strong, side-by-sides sell well. When new supply is heavy, such as when several builders are completing similar units at once, prices can be more competitive. An appraisal reflects the balance at the time.

Buyers also ask about maintenance. With a freehold side-by-side, the owners of each half are responsible for their own maintenance, but shared elements like the roof line and party wall may require cooperation. A party wall agreement helps define those responsibilities, and buyers should read it before purchasing.

A Steinbach example

Two side-by-side halves in the same Steinbach development look nearly identical from the street. One is freehold with a double garage and a developed basement; the other is condo-titled with a single garage, an unfinished basement and a monthly fee. The appraiser compares each with sales of the same title type, adjusts for garage and basement differences, and considers the fee. The two units end up with noticeably different values, even though a quick glance would suggest they are the same.

Side-by-side appraisals across Manitoba

Burley Appraisals appraises side-by-sides, duplexes and small multi-unit buildings across Winnipeg, Steinbach, Winkler, Morden and Southern Manitoba. Order online.

Frequently asked questions

This article is general information, not legal, tax or financial advice. Speak with a qualified professional about your situation.