Property Overview
This 2019-built, two-storey home in Bridgwater Lakes offers modern living with practical appeal. Its key characteristics include a generous 2,174 sqft of living space, an attached garage, and a full, unfinished basement providing a blank canvas for future expansion. The lot is a sizable 5,430 sqft, offering ample outdoor space for a newer neighbourhood home.
The primary appeal lies in its balance of being a relatively new build—free from major immediate repairs—coupled with the opportunity to add personal value through basement development. Its value metrics are strong for the city, ranking in the top tiers for year built and overall assessed value within Winnipeg. This suggests a well-regarded, stable investment in a modern community.
This property would suit first-time buyers or young families looking for a move-in-ready home without the worries of aging infrastructure, but who are also eager to take on a defined project like finishing the basement to suit their needs. It also appeals to the value-conscious buyer who appreciates the statistical strength of its assessed value and newer build age within the broader market.
Frequently Asked Questions
Q: How does the unfinished basement impact the value and utility?
A: It presents both a cost-saving on the initial purchase price compared to a finished home and a clear opportunity to add equity. You can customize the space to your exact needs, whether it's a rec room, home office, or extra bedroom, without needing to undo someone else's work.
Q: The home sold in 2021 for $670k, but the current assessed value is much lower. Why?
A: Municipal assessed value for property tax purposes is not a direct indicator of market value. It's based on a mass appraisal system at a fixed point in time and often lags behind current market conditions. The 2021 sale price is a more relevant, though historical, data point for understanding the home's market value trajectory.
Q: The rankings show the lot is "Better than 6% in same street" for size. Does that mean it's small?
A: Not necessarily. This specific ranking indicates that on Springwater Road, which may have larger estate-style lots, this property's lot is more typical of standard newer subdivisions. At over 5,400 sqft, it is still a very functional size for gardening, play, and entertaining, especially for a 7-year-old home.
Q: What is the significance of the "Similar Assessed Value" comparisons in other neighbourhoods?
A: This illustrates what a property with an identical municipal assessment can look like across Winnipeg. It highlights that this home offers a specific package—size, age, and neighbourhood—at that valuation point, allowing buyers to compare the trade-offs between different areas and property types.
Q: The neighbourhood rankings are mixed. How should I interpret this?
A: The home ranks highly for its newness (top 5% in Bridgwater Lakes) but mid-range for size and value within its immediate area. This suggests it's a solid, average-to-above-average property for this specific sought-after neighbourhood, rather than a standout. The appeal is consistency in a desirable modern community.