Property Overview: 23 Carriage Bay, Heritage Park, Winnipeg
Key Characteristics & Appeal
This 1963 bi-level home at 23 Carriage Bay presents a compelling mix of established neighbourhood character and modern practicality. With 1,046 sqft of living space and a renovated basement, it offers functional living on a manageable 5,495 sqft lot. A detached garage adds utility.
The home’s primary appeal lies in its position within the sought-after Heritage Park area, coupled with a notably strong assessment value relative to its immediate surroundings. While the living space is modest compared to some neighbours, its assessed value ranks in the top 9% on its own street and the top 26% in Heritage Park, suggesting the property is well-regarded or has features the market rewards. This creates an interesting dynamic: you’re purchasing a home that may be physically smaller than some peers, but one that holds significant perceived value within its micro-market.
It would suit a first-time buyer or downsizer seeking an established, stable neighbourhood without a massive yard to maintain. The renovated basement adds flexible space for a growing family, a home office, or a recreation room. This property is for the buyer who values location and solid fundamentals over sheer size, and who understands that a higher assessment relative to area norms can be a positive indicator of underlying value or future stability.
Frequently Asked Questions
1. How does the assessed value compare to the last known sale price?
The home sold in June 2021 for an estimated range of $375,000 - $405,000. The current assessed value is $400,000, indicating the official assessment aligns closely with its recent market transaction.
2. Is the lot size a disadvantage?
At 5,495 sqft, the lot is below the average for both the street and Heritage Park. This means less yard maintenance, which many buyers appreciate, but may limit expansion possibilities or spacious outdoor living compared to some neighbours.
3. What does the “renovated basement” include?
The listing confirms the basement is renovated but does not specify the scope. We recommend inquiring about the finishes, ceiling height, permits, and whether it includes a secondary bedroom or legal egress.
4. The home is older than many on the street. Should I be concerned?
Built in 1963, it is older than most homes on Carriage Bay. This is typical for a mature neighbourhood and suggests potential for classic construction quality. A thorough inspection is always advised to understand the condition of major systems like roof, plumbing, and wiring, which may be original or updated.
5. Why is the assessed value ranking so much higher than the living area ranking?
This is a key point. The home ranks in the top 9% for value on its street but only in the top 79% for size. This discrepancy often signals that other factors—such as the renovated basement, premium lot location, superior finishes, or simply strong market demand for homes in this specific location—are driving its official valuation significantly more than square footage alone.