Property Overview: 71 Frigate Bay, Island Lakes, Winnipeg
Key Characteristics & Appeal
This two-storey home in the established Island Lakes neighbourhood offers a balanced, move-in-ready package. Built in 2004, it features 1,775 sqft of living space, an attached garage, and a renovated basement. Its appeal lies in its strong positional value: while the home’s metrics (size, lot, assessed value) are generally average for its immediate street and neighbourhood, they place it well above the Winnipeg city-wide average. This indicates you’re getting a home that outperforms most of the market for space and modern construction, within a sought-after community.
The renovated basement adds functional living space, appealing to those who need flexibility for a home office, gym, or family room. It suits practical buyers looking for a comfortable family home in a mature area without the premium for a top-tier lot size or the unpredictability of an older build. A thoughtful perspective is that its "around average" standing within Island Lakes itself can be a stability advantage, suggesting it’s unlikely to be over-improved or under-valued relative to its peers, which can simplify both purchase and future resale.
Frequently Asked Questions
1. How does this home’s size compare to others in Winnipeg?
At 1,775 sqft, the living area is above the city-wide average (1,342 sqft), placing it in the top 18% of homes in Winnipeg for space.
2. What is the neighbourhood like for families?
Island Lakes is a mature, family-oriented community known for its network of parks, pathways, and water features. The 2004 build date means the home is relatively modern within this established setting.
3. Is the assessed value a reliable indicator of the selling price?
The assessed value is for municipal tax purposes. The most recent sold price data (Aug 2024) shows a range consistent with the assessed value, but market conditions always determine the final sale price.
4. What does "renovated basement" typically include in this context?
While specifics should be verified, in homes of this age and calibre, a renovated basement usually indicates a finished space with proper flooring, drywall, and lighting, making it immediately usable as living area.
5. How does the lot size affect potential for expansion or outdoor use?
At 5,257 sqft, the lot is slightly below the neighbourhood average but is a standard urban footprint. It provides ample yard space for family activities but may have specific setback limits for major additions like a deck or garage extension.