Property Overview: 221 Island Shore Boulevard
Section 1: Key Characteristics & Appeal
This 4-level split home, built in 1986, presents a practical opportunity in Winnipeg's Island Lakes neighborhood. With 1,238 sqft of living space and a renovated basement, it offers functional, multi-level living on a 4,184 sqft lot. A detached garage provides additional storage or parking.
The primary appeal lies in its value positioning. The home's assessed value is notably below the averages for both its immediate street and the wider Island Lakes area, suggesting a potentially accessible entry point into this established community. It suits first-time buyers or practical-minded investors seeking a foothold in a popular neighborhood without a premium price tag. The renovated basement adds immediate livable space without the need for initial projects.
A less obvious perspective is its relative vintage. While older than many homes in Island Lakes, it is newer than the typical Winnipeg home city-wide. This positions it as a middle-ground option—offering more modern construction than many city properties, but potentially with more original components than newer subdivisions, appealing to those who prefer established communities over brand-new builds.
Section 2: Frequently Asked Questions
1. Is the below-average assessment a red flag?
Not necessarily. A lower assessment relative to the area can indicate a more affordable purchase price and correspondingly lower property taxes. It often reflects the home's smaller size and lot compared to neighborhood averages. A professional inspection is key to understand the property's condition.
2. What does the "4-level split" layout mean for daily living?
This style typically features short flights of stairs between levels, creating defined zones for living, sleeping, and recreation. It's efficient with space but involves more stairs than a bungalow or two-story. It works well for separating living and sleeping areas.
3. How does the lot size impact this property?
At 4,184 sqft, the yard is smaller than most in Island Lakes. This means lower maintenance, which is a benefit for busy owners or those not seeking extensive gardening. However, it offers less private outdoor space than larger lots in the area.
4. The home last sold in 2017. What should I consider?
A seven-year ownership period suggests the sellers have likely lived in and maintained the home. It’s a reasonable timeframe, indicating stability rather than a quick "flip." It's wise to ask what updates, beyond the basement, have been completed during their tenure.
5. Why is the assessed value so different from the city-wide average?
The city-wide average assessed value includes a vast range of property types and ages across all neighborhoods. The more relevant comparisons are the local ones provided (for the street and Island Lakes), which show this home's value is positioned at a lower tier within its specific, desirable area.