Property Overview: 64 Wayfarer's Haven, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Island Lakes presents a specific and compelling value proposition. Its key characteristic is a generous, above-average lot size of nearly 8,800 sqft, which ranks within the top 20% on its own street and top 13% in the neighbourhood. This offers significant outdoor space and potential, a notable asset in a mature community. The home itself, built in 2000, is of average size for the city (1,294 sqft) but is smaller than many neighbouring homes, which contributes to its relatively accessible assessed value of $530,000. It features an attached garage and a renovated basement.
The appeal lies in this balance: you are acquiring a premium-sized lot in an established, desirable neighbourhood at a price point that is competitive for the area. The renovated basement adds modern living space. This property would ideally suit first-time buyers or downsizers seeking single-level living who prioritize a large, private yard over a larger interior footprint. It’s a strategic entry into a neighbourhood where land is a key driver of value, offering room to grow, garden, or entertain.
Section 2: Frequently Asked Questions
1. Is the home's smaller living area a concern?
While the living area is below the current average for Island Lakes, it is close to the city-wide average. The trade-off is the substantially larger lot. For buyers who value outdoor space or envision future expansions like a sunroom or deck, this is a favourable layout.
2. How does the assessed value compare to recent sales?
Public data suggests a sale occurred in late 2021 in the $485k-$515k range. The current assessed value of $530k is above that, reflecting market trends and the home's strong standing relative to city and neighbourhood property values (ranking in the top 24% in Island Lakes).
3. What does the lot size actually offer?
At 8,798 sqft, the lot is over 2,000 sqft larger than the Island Lakes average. This provides exceptional room for landscaping, a spacious shed, a play area, or a large patio, setting it apart from closer-packed properties.
4. Is a home built in 2000 considered modern or dated?
Built in 2000, the home is newer than over 80% of properties city-wide. While not brand new, major components like roofing, windows, and siding are likely mid-life, and the basement renovation indicates updates have been made. It strikes a balance between modern construction standards and established neighbourhood maturity.
5. How competitive is this price for Island Lakes?
With an assessed value ranking in the top quarter of the neighbourhood but a living area that is more modest, this property likely offers a lower price-per-square-foot for the house but a higher price-per-square-foot for the land compared to area averages. It represents a value play on the lot itself.