Property Overview
This one-storey home at 3 Captains Way in Winnipeg's Island Lakes neighbourhood presents a specific and practical profile. Its key appeal lies in being a well-maintained, modern home on a generous lot within a sought-after community, but with a living space footprint that is notably compact.
Key Characteristics & Ideal Buyer
The home’s primary characteristic is its contrast between a very recent build year (2006, among the newest on its street) and a modest 1,204 sqft of living area, which is below average for both the immediate street and the Island Lakes area. This is balanced by an above-average, city-wide assessed value of $470k and a larger-than-street-average land area of 5,875 sqft. The home features an attached garage and a renovated basement, adding functional space.
Its appeal is grounded in efficiency and location. It suits buyers seeking a low-maintenance, modern home in a prime neighbourhood without the larger square footage that typically accompanies it—ideal for empty-nesters, small families, or professionals who value quality of community over interior size. The generous lot offers outdoor potential not always available with newer homes. A thoughtful perspective is that this property represents an entry point into Island Lakes, offering the neighbourhood's amenities and prestige at a potentially more accessible price point due to its smaller scale, while the renovated basement helps offset the main floor's limited space.
Frequently Asked Questions
1. Is the living area too small for the neighbourhood?
While the living area is below the average for Island Lakes, the home is one of the newest on the block and is positioned on a larger lot. It appeals to those prioritizing a modern build and outdoor space over sheer interior square footage.
2. Why is the assessed value high relative to the home's size?
The assessed value of $470k reflects the desirable Island Lakes location, the modern build year, the renovated basement, and the lot size. City-wide, this value is in the top 25%, indicating strong perceived value for its overall package beyond just square footage.
3. What is the potential for expansion or renovation?
The combination of a one-storey design and an above-average lot size for the street could provide long-term potential for additions, subject to local zoning and bylaws. The basement renovation is already completed.
4. How does this home compare to others on Captains Way?
It is one of the newest homes on the street (ranked 1 of 40 for year built) but has the smallest living area. Its land parcel, however, is larger than most of its immediate neighbours (ranked 8 of 40 for land area).
5. What is the exact prior sale price?
The public data shows a sale in October 2016 in the range of $315k-$345k. For the precise historical sale price, you can request the exact figure via email from the listing source.