Property Overview
This single-storey home at 205 Island Shore Boulevard in Winnipeg's Island Lakes neighbourhood presents a specific value proposition. Built in 1987, it offers 1,040 sqft of living space with a renovated basement on a 3,988 sqft lot. Key data points show it is a more compact offering within its immediate area and street, with both its living area and lot size ranking below the local averages. Its assessed value is notably lower than most homes in Island Lakes, positioning it as an accessible entry point into the neighbourhood. The home lacks a garage and pool.
Its primary appeal lies in being a renovated, manageable single-level home in a well-established, desirable community at a relatively accessible price point. It suits first-time buyers seeking neighbourhood appeal over square footage, downsizers looking for a low-maintenance layout without leaving the area, or investors considering a hold property in a stable market. A thoughtful perspective is that its below-average metrics for the street could represent a value opportunity for those who prioritize location and community amenities over sheer size, assuming the interior renovation is well-executed.
Frequently Asked Questions
1. Why is the assessed value significantly lower than the area average?
The assessed value is influenced by several factors from the provided data, including the home's smaller living area and lot size compared to neighbourhood averages, along with the absence of a garage. It reflects the property's specific physical attributes within the market.
2. What does the ranking data for "Top 96%" in living area for Island Lakes mean?
This statistic indicates that for living area, this home is larger than only 4% of comparable homes in Island Lakes, placing it in the bottom tier for size within the neighbourhood. It quantifies that this is a more compact home in an area of generally larger properties.
3. Is the lack of a garage a major concern?
This depends on buyer needs. While many homes in the area have garages, its absence contributes to the lower assessed value and may be a trade-off for the price point. Buyers should consider driveway parking and local street parking regulations.
4. The home sold in late 2020. How useful is that price today?
The 2020 sale price provides historical context but does not reflect current market conditions. It is most useful for understanding previous market activity on the property, not for determining its present value, which is influenced by more recent market shifts.
5. What are the less obvious pros and cons of a home that ranks "below average" on its street?
A potential pro is that property taxes may be comparatively lower due to the assessed value. A con could be that future resale might be capped by the surrounding higher-value homes, or conversely, benefit from being the most affordable option on the block. It also suggests less privacy or space relative to immediate neighbours.