Property Overview
This well-presented, renovated bungalow in Bridgwater Lakes offers a practical and modern living space on a generous lot. Built in 2014, its key appeal lies in its move-in-ready condition with an updated basement, providing flexible living areas. The detached garage and nearly 4,800 sq ft lot offer valuable space and potential for a growing household or hobbyist. While the living area is compact, the full, renovated basement effectively expands the usable space.
The property is best suited for first-time buyers, small families, or downsizers seeking a low-maintenance, single-level layout in a newer suburban community. Its assessed value ranks highly city-wide, suggesting a solid investment in a desirable area. A thoughtful perspective is that this home represents an opportunity to own a newer-build bungalow—a sought-after style—without the premium often attached to brand-new construction, while the renovated basement adds immediate value.
Frequently Asked Questions
1. How does the property’s size compare to the neighbourhood?
The living area is more compact than most homes in Bridgwater Lakes, ranking in the top 98% (meaning only 2% of homes in the neighbourhood are smaller). However, the lot size is above average for the street, offering good outdoor space.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, permits, and the nature of the renovation (e.g., recreational room, additional bedroom, etc.).
3. Why is there a difference between the last sold price and the current assessed value?
The home sold for $49.5k in January 2023, which is significantly lower than its current $520k assessment. This typically indicates a non-arms-length transaction (such as between family members) and is not reflective of market value. The assessed value is the more relevant figure for current market comparison.
4. Who might this property not suit?
Buyers requiring extensive main-floor living space or multiple bedrooms on one level may find the layout limiting. It may also not suit those seeking a home with a garage attached to the house for direct access.
5. What are the advantages of its location within Winnipeg?
The home ranks in the top 15% of Winnipeg by assessed value and the top 9% by year built, indicating it's a newer property holding value well compared to the broader city market. It sits in a modern, planned community with newer infrastructure.