Property Overview: 7 Scholberg Lane, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a well-positioned, mid-sized property in the established Island Lakes neighbourhood. Built in 2006, it offers modern construction while being settled into a mature community. The 1,515 sqft living space is comfortably above the Winnipeg average, providing ample room for daily life. A key feature is the renovated basement, adding valuable finished space. The home includes an attached garage and sits on a standard suburban lot.
Its primary appeal lies in its balance and stability. The home consistently ranks as "around average" to "above average" against most local and city-wide metrics for size, value, and age, suggesting it is a solid, benchmark property without extreme outliers. It’s notably newer than most homes in Winnipeg, a less obvious advantage that can mean fewer major repairs in the near term. The recent sale in 2024 indicates a fresh market valuation.
This property would suit practical buyers looking for a move-in ready home in a family-friendly area without the premium price of a brand-new build. It’s ideal for those who value a renovated basement as flexible living space and appreciate a home that represents a dependable, middle-of-the-road investment in a desirable neighbourhood.
Section 2: Frequently Asked Questions
1. How does the lot size compare to others in Island Lakes?
While the lot is standard for its specific street, it is smaller than the typical lot for the broader Island Lakes area. This could mean less yard maintenance but also less private outdoor space compared to some neighbouring properties.
2. The assessed value seems lower than recent sale prices. Why?
Manitoba’s assessed value for taxation purposes often lags behind current market values. The 2024 sale price range provided is a more accurate reflection of the home’s recent market worth. The assessed value places the home well above the city median, indicating its perceived value.
3. What does the "Elite" ranking for Year Built in Island Lakes mean?
This indicates the home, built in 2006, is among the newest 5% of comparable properties in the Island Lakes area. This is a significant advantage in a neighbourhood with many older homes, potentially translating to more modern building materials, systems, and layout.
4. Is the living space sufficient for a growing family?
At 1,515 sqft plus a renovated basement, the home offers space comparable to the average on its street and in Island Lakes. The renovated basement effectively expands the usable living area, making it suitable for a small to medium-sized family.
5. What is the history of price appreciation for this home?
Based on the available data, the home sold for between $37.5k-$40.5k in 2016 and between $53.5k-$56.5k in 2024. This suggests a notable increase in market value over that eight-year period, consistent with broader market trends. For precise figures, you can request the exact sold price history.