Property Overview: 506 Wilton Bay, Grant Park, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1956, situated on a standard-sized lot in Winnipeg's established Grant Park neighborhood. With 936 square feet of living space, it is notably smaller than many homes on its own street but aligns more closely with the average size for the Grant Park area. Its key updated feature is a renovated basement, adding functional living space, and it includes a detached garage.
The primary appeal lies in its position as a relatively affordable entry point into a mature, central neighborhood. The home’s assessed value is consistently around average for its immediate area, city-wide, and for Grant Park, suggesting a stable, non-inflated market position. For its street, it is one of the newer homes (built in 1956, ranking in the top 10% locally by year), which may imply somewhat newer infrastructure compared to neighbors.
This property would best suit first-time buyers, downsizers, or practical investors seeking a manageable, low-maintenance footprint in a central location without a premium price tag. It’s a home for those who value location and lot size over square footage, and who see potential in the already-renovated basement to maximize the usable space.
Frequently Asked Questions
1. Is this house a good value for the Grant Park area?
Based on assessed value, it sits solidly around the average for the neighborhood. You are not paying a premium for the location, but you are getting a typical price for a smaller-than-average home in the area, with the benefit of a renovated basement.
2. How does the size compare to nearby homes?
At 936 sqft, the living area is below average for Wilton Bay street itself but is much closer to the Grant Park area average. This indicates the home is more characteristic of the broader neighborhood than of its specific, possibly larger-lot, street.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope or finish. This is a key detail to clarify with the seller or agent to understand the quality of the renovation and whether it includes legal secondary suites, additional bedrooms, or simply finished living space.
4. What is the typical price history for this home?
Public data shows it last sold in September 2016 for an estimated range of $29.5k to $32.5k. The current assessed value is $37.7k. For exact historical sold prices, you must request the information directly from the listing source.
5. The home was built in 1956. What should I be concerned about?
While it is newer than many on its street, a 70-year-old home will still require due diligence. Key points for a professional inspection would include the age and condition of the roof, foundation, plumbing, electrical systems, and the quality/permits of the basement renovation.