Property Summary: 486 North Town Road, Bridgwater Lakes
Section 1: Overview & Appeal
This well-situated home in the popular Bridgwater Lakes neighbourhood presents a compelling opportunity. Built in 2013, it sits on a notably large lot (over 7,400 sq ft), ranking in the top 15% for size on its street, which offers ample outdoor space—a relative rarity in newer communities. The home itself features a renovated basement and an attached garage. While its living space is a comfortable 2,001 sq ft, the property’s standout characteristic is its value proposition: it boasts an assessed value that places it in the top 5% for affordability across all of Winnipeg. This creates an interesting dynamic where the land asset is substantial, but the municipal valuation is conservative.
Its appeal lies in this balance of space and value. It suits first-time buyers or young families looking to enter a sought-after, modern neighbourhood without the premium price tag of a brand-new build. It also appeals to value-conscious buyers who prioritize lot size and see potential in a home that has already seen key updates like a basement renovation. The data suggests it’s a home that offers more "outside" than "inside" relative to its peers, perfect for those who envision gardens, play areas, or future expansions.
Section 2: Frequently Asked Questions
Q: How does the sold price from 2020 relate to today's value?
A: The home sold for $490,000 in mid-2020. While this gives historical context, current market conditions and the home’s significantly lower assessed value suggest consulting a recent comparative market analysis is essential for understanding its present market position.
Q: The assessed value seems low for the neighbourhood. Why?
A: Municipal assessments for tax purposes often lag behind market values and are based on specific formulas. A low assessment can mean lower property taxes, but it may also indicate the assessment hasn’t caught up to area sales or that the home’s features are valued differently by the city than by the market.
Q: Is the living space smaller than other homes nearby?
A: At 2,001 sq ft, the living area is somewhat modest compared to some newer builds in Bridgwater Lakes, as seen with the larger reference property provided. However, this is offset by the much larger-than-average lot size.
Q: What does the "Cabover" building type mean?
A: "Cabover" typically describes a house style where the second story overhangs or extends partially over the first-floor footprint, often creating a distinctive architectural look and sometimes allowing for a more efficient foundation layout.
Q: The home is newer than 85% of Winnipeg, but only 33% of its neighbourhood. What does this mean?
A: Bridgwater Lakes is a relatively new community, so many homes are of a similar age. While this 2013 home is newer than most of Winnipeg, it is actually older than about two-thirds of its immediate neighbours. This positions it as one of the earlier builds in the area.