210 Springwater Road

Property Overview & Appeal

This two-storey home in Bridgwater Lakes is a modern property built in 2018, positioned on a large, premium lot. Its key appeal lies in a combination of space, recent construction, and strong market performance. The nearly 8,800 sqft lot size is notably larger than most in the area, placing it in the top 15% of its street. The home itself offers over 2,000 sqft of living space and features a renovated basement and an attached garage.

The property’s standout characteristic is its exceptional value trajectory. It last sold in July 2022 for $910,000, a price point that ranks in the top 1% of all Winnipeg sales historically, indicating a highly desirable location and property package. Its current assessed value, while significantly lower, still places it in the top 2% citywide, suggesting official recognition of its premium attributes. This home would suit buyers looking for a move-in ready, modern build in a sought-after neighbourhood, who prioritize a spacious lot and are attuned to properties with a demonstrable record of high value. It’s particularly suited for those who see long-term value in land size and recent sales history, not just current assessments.

Key Questions for Consideration

1. How does the large lot size specifically benefit this property?
   Beyond simple curb appeal, a lot of this size (top 15% on the street) offers rare potential for expansion, gardening, or private outdoor living space in a newer community, providing a long-term advantage as neighbourhoods mature and space becomes scarcer.

2. Why is there a significant gap between the 2022 sale price and the current assessed value?
   This is a common point of analysis. The sale price reflects the competitive market peak of 2022 and what a buyer was willing to pay for this specific home. The assessed value is a municipal valuation for tax purposes, often lagging behind rapid market shifts. The key takeaway is the property's proven ability to command a top-tier price.

3. What does the "renovated basement" entail?
   The listing notes a renovated basement, but specifics on finish quality, permits, and the scope of work (e.g., is it a legal suite, a rec room, or additional bedrooms?) are essential to clarify, as this significantly impacts livable space and value.

4. How does this home compare to the nearby reference property on Creekside Road?
   The listed comparable at 180 Creekside Road has a similar build year but a smaller lot, less living area, and a lower assessed value. This side-by-side data highlights how the specific lot size and features of 210 Springwater Road contribute to its elevated value positioning.

5. What is the significance of the "Top 1%" sales rank in Winnipeg?
   This statistic isn't just about price; it indicates that this property outperformed 99% of all homes sold in Winnipeg at that time. It speaks to a combination of desirable location, property features, and market timing that is very uncommon, suggesting a highly competitive profile when it hits the market.