Property Overview: 38 Tidewater Bay, Island Lakes
Key Characteristics & Buyer Profile
This two-storey home in Island Lakes offers a practical blend of space and location. At 1,841 sqft, the living area is comfortably above the Winnipeg average, providing ample room for a family. A key feature is the renovated basement, adding valuable finished space. The home is on the older side for the immediate neighborhood, built in 1985, but this is balanced by its above-average citywide assessment value, suggesting it has been well-maintained or updated.
Its appeal lies in its established community setting and efficient footprint. While the lot size is smaller than others on Tidewater Bay, it is typical for Island Lakes overall, requiring less maintenance. The attached garage is a practical asset for Winnipeg winters. This property would best suit a buyer looking for a move-in-ready family home in a mature, sought-after neighborhood like Island Lakes, who values interior space and a renovated basement over a large yard or a brand-new build. It represents an opportunity to enter a popular area where the home itself offers more modern living space than the vintage might suggest.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While the assessed value is above average citywide, it's below average for both Tidewater Bay and Island Lakes. This can sometimes indicate a pricing opportunity, but the final sale price will depend on market conditions, the quality of the renovations, and how the home compares to recent sales in the area.
2. What does the "older" build year mean for a buyer?
Built in 1985, the home's major systems (roof, windows, furnace) may be nearing or have undergone replacement. A thorough inspection is advised. Conversely, homes from this era often feature larger room sizes and mature landscaping compared to newer subdivisions.
3. The lot is smaller than others on the street. Is that a significant drawback?
For those prioritizing a large yard for play or gardening, it may be. For buyers seeking lower outdoor maintenance or who value community parks (like those near Island Lakes), the standard-sized lot is a manageable trade-off for the location and interior space.
4. The basement is noted as renovated. What should I ask about this?
It's important to verify the scope of the renovation, whether permits were obtained, and the quality of the finish. Ask about moisture control and the home's drainage, as a renovated basement adds value only if it is dry and properly finished.
5. How does this home fit within the Island Lakes community?
Island Lakes is known for its lakes, pathways, and community feel. This home positions you in the heart of that, but on a street where it is one of the more modest properties in terms of lot size and assessed value. It offers the community amenities while potentially representing a more accessible entry point.