Property Overview: 120 Wayfarer's Haven, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Island Lakes is a standout property defined by its above-average scale and premium positioning within its community. Built in 2002, it offers modern construction paired with a renovated basement. The 2,077 sqft living area places it in the top 9% for size both locally and citywide, providing generous family-sized space. Its appeal is further anchored by a substantial 7,505 sqft lot, offering ample outdoor privacy and potential.
The home’s strongest appeal lies in its elite assessed value ranking—placing in the top 3% in Island Lakes and top 5% citywide. This indicates a property that has been valued significantly higher than area averages, often a reflection of upgrades, condition, and desirability. The attached garage and lack of a pool suggest a practical, low-maintenance exterior focus.
This property would ideally suit buyers looking for a move-in ready, spacious family home in a well-established neighbourhood, who value both interior space and a large yard. It’s particularly suited for those who appreciate a home with proven premium market valuation, suggesting a sound investment in a desirable area. A thoughtful perspective is that this home offers the space and modern amenities of a newer build, but within a mature, treed neighbourhood that newer subdivisions often lack.
Section 2: Frequently Asked Questions
1. What does the "Elite" assessed value ranking mean?
It means this home’s municipal assessed value is higher than 95-97% of comparable homes in Winnipeg. This typically reflects factors like renovations, premium finishes, or a prime lot, and often correlates with a stronger market value.
2. How does the lot size compare?
At 7,505 sqft, the lot is above average for both Island Lakes and Winnipeg. It provides more outdoor space than many newer properties, a key feature for gardening, recreation, or future additions.
3. The home sold in 2022. What can that price tell me?
The sold price range from July 2022 provides a recent market benchmark. However, it reflects the peak market conditions of that time. Current value would be influenced by subsequent market changes and any updates made by the sellers since that purchase.
4. Is the renovated basement included in the living area square footage?
Typically, municipal living area (sqft) calculations in Winnipeg do not include below-grade space, even if renovated. The 2,077 sqft likely refers to above-grade living space only, with the renovated basement adding additional functional area.
5. The home is 24 years old. What should I consider?
A 2002 build is relatively modern, meaning major components like the roof, windows, and HVAC system are likely original and may be nearing the end of their serviceable lifespan. A pre-purchase inspection is crucial to assess their condition and plan for potential future updates.