Property Overview: 262 Island Lakes Drive
Key Characteristics & Buyer Appeal
This 1990 bi-level home at 262 Island Lakes Drive presents a compact, efficient living space in a well-regarded Winnipeg neighbourhood. With 858 square feet of living area, it is notably smaller than most homes on its street and within Island Lakes, positioning it as one of the more modestly-sized properties in the area. Its key features include a renovated basement and a detached garage. The lot size is also more compact compared to area norms.
The primary appeal lies in its value proposition within a desirable neighbourhood. It offers an entry point into Island Lakes, which typically features larger, higher-value homes. This makes it particularly suited for first-time buyers, downsizers, or investors seeking a lower-maintenance property in a prime location without the premium price tag of a larger house. The renovated basement adds functional living space, appealing to those looking for a move-in-ready lower level. A thoughtful perspective is that its smaller scale could mean lower utility costs and less upkeep, offering a simpler lifestyle while still providing access to the community's amenities and reputation.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
This home’s living area is 858 sqft, which is below the average for Island Lakes. It ranks among the smaller homes in the neighbourhood, which may translate to a more affordable and manageable property.
2. What is the significance of the assessed value?
The assessed value is $37,500. While this is below the average for Island Lakes, it is around the median when compared city-wide. This highlights the property’s position as a more accessible option within a higher-value neighbourhood.
3. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. A viewing or inquiry with the seller is necessary to understand the full scope and quality of the renovation.
4. How recent are the comparable sold prices shown?
The last recorded sale was in July 2024, with a price range of $38,500-$41,500. The listing service notes that exact historical sold prices are available upon direct request via email.
5. Is the lot size typical for the area?
The land area is 4,397 sqft, which is below the average lot size for both the street and the Island Lakes neighbourhood. This means smaller outdoor maintenance but potentially less private yard space than some neighbouring properties.