Property Overview: 35 Frigate Bay, Island Lakes, Winnipeg
Key Characteristics & Buyer Appeal
This home at 35 Frigate Bay is a well-situated, early-2000s cabover with an attached garage, presenting a practical opportunity in the established Island Lakes neighborhood. Its key appeal lies in its generous, above-average lot size of over 8,000 sqft—a standout feature that offers more outdoor space than most homes on its street and across the city. The living area of 1,490 sqft is modest for the immediate area but aligns with the Winnipeg average, suggesting a efficient, manageable layout. The unfinished basement presents a clear canvas for future customization.
The property suits buyers seeking a solid foundation in a mature suburb, where the value is anchored more in the land and location than in high-end finishes. It’s ideal for a first-time homeowner comfortable with a project, a family valuing a large yard over a massive house, or an investor looking for a property with "sweat equity" potential in the basement. A thoughtful perspective is that while the home’s specs are average in many categories, its combination of a large lot in a newer-than-average city neighborhood offers a balance of space and modern infrastructure that can be hard to find.
Frequently Asked Questions
1. Is the price competitive for the area?
Based on assessed value, this home is priced below the average for Frigate Bay itself but is very close to the average for the broader Island Lakes area. This suggests it may offer relative value within a desirable street.
2. What does the "below average" living area ranking mean for daily life?
At 1,490 sqft, the home has less interior space than many of its direct neighbors. This points to a more compact, efficient floor plan. The unfinished basement is a key factor here, as finishing it would significantly increase usable living space.
3. How does the large lot size benefit me?
The lot is a major asset, ranking in the top 11% on the street. It provides ample room for gardening, play, entertaining, or future additions like a shed or deck, offering more private outdoor space than most comparable properties.
4. The home was last sold in 2017. What does that indicate?
The seven-year ownership period suggests a period of stability, which can be positive. It also indicates the current condition and any updates are likely reflective of that timeframe, so a thorough inspection is recommended.
5. Why is the city-wide assessed value ranking so different from the street ranking?
The home ranks "above average" city-wide because it is a relatively newer home (2004) on a large lot compared to Winnipeg's overall housing stock, which includes many older, smaller-lot properties. On its own street of similar homes, its assessed value is more modest.