Property Overview & Key Characteristics
This one-storey home at 55 Minikada Bay presents a specific and compelling value proposition. Its key appeal lies in the significant contrast between its modest, 800 sqft living space and its generous 7,162 sqft lot, which ranks among the largest in both the immediate area and the wider Kildare-Redonda neighbourhood. The home itself, built in 1967, is one of the newer houses on its street. It features a renovated basement and a detached garage.
The property would suit a practical buyer who prioritizes land over square footage. It's ideal for someone with a vision for expansion, looking to build a larger home or add significant additions in the future, or for those who simply desire ample outdoor space for gardens, recreation, or privacy in a city setting. It also represents a potential entry point into the area for a budget-conscious buyer or investor, given its below-average assessed value relative to the city. The renovated basement adds functional living space, appealing to those needing a separate suite, hobby room, or extra storage.
Frequently Asked Questions
1. Is the house in good condition, given its age?
While the home was built in 1967, it is actually one of the newer houses on Minikada Bay. The listing confirms a renovated basement, which suggests some updates have been made. A professional inspection would be needed to confirm the condition of major systems and the main floor.
2. Why is the assessed value relatively low?
The assessed value is below average for the street, neighbourhood, and city. This typically reflects the home's smaller living area (800 sqft) relative to its lot size and comparable properties. It indicates the current valuation is based more on the existing structure than the land's potential.
3. What are the possibilities for the large lot?
The exceptionally large lot is the property's standout feature. It offers rare potential for expansion, such as building a sizable addition, creating a detached workshop or studio, or simply enjoying extensive private outdoor space. Buyers should verify zoning bylaws with the city for any development plans.
4. How does the sold price history help determine value?
The home sold previously in August 2021 for an estimated range. This provides a recent market benchmark. For the exact historical sold price, you can request it directly from the listing service via the provided email option.
5. What is the neighbourhood like?
The home is in the Kildare-Redonda area of Winnipeg. The listing shows several nearby properties on the same bay, suggesting a established, residential setting. Further research into local amenities, schools, and traffic would be recommended.