Property Overview: 16 Lagace Place, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This single-storey home in Island Lakes is a practical and well-situated property. Its key characteristics include 1,046 sqft of living space, a renovated basement, an attached garage, and a 6,396 sqft lot. Built in 1992, the home is younger than the Winnipeg average. The data reveals a nuanced picture: while the living space is modest for the immediate street and neighbourhood, the property holds its value well, with an assessed value that ranks above average city-wide. Its lot size is also notably larger than most in Winnipeg, offering good outdoor space for the footprint of the home.
The appeal lies in its efficient layout, updated basement, and the established, family-friendly Island Lakes community. It represents an opportunity for value within a desirable area. This home would best suit first-time buyers, downsizers looking for single-level living, or pragmatic investors seeking a property with a strong city-wide value ranking and a turnkey basement suite potential (given the renovation). A thoughtful perspective is that its smaller main-floor size, compared to neighbours, could mean lower utility costs and less maintenance, appealing to those seeking a simpler, cost-effective lifestyle in a premium neighbourhood.
Section 2: Frequently Asked Questions
1. How does the size of this home compare to others nearby?
The living area is more compact than most homes on Lagace Place and in the wider Island Lakes area, but it is very close to the average size for the entire City of Winnipeg. This suggests a efficient use of space within a well-regarded community.
2. Is the assessed value typical for the area?
Yes. The assessed value is around the average for both the street and Island Lakes. Notably, it ranks above average compared to all Winnipeg homes, indicating a solid valuation foundation.
3. What is the significance of the lot size?
The lot is the smallest on Lagace Place but is larger than average for both Island Lakes and Winnipeg. This means you get more outdoor space than a typical city lot, which is a valuable asset, even if it's not the largest on the block.
4. When was it last sold and for how much?
The home sold in July 2023. The public price range is shown, and the exact sale price is available upon direct request to provide accurate historical context.
5. What are the less obvious considerations for this property?
Given its above-average city ranking for assessed value on a per-square-foot basis and the renovated basement, the property may offer strong value retention. The single-storey design is a major plus for accessibility and aging in place. Buyers should weigh the benefits of a established neighbourhood and larger lot against the home's more modest interior square footage compared to immediate neighbours.