Property Overview
22 Parkroyal Bay is a well-established home in Winnipeg’s Linden Woods neighbourhood. Built in 1983, it sits on a generous 8,029 sqft lot and offers 2,001 sqft of living space. The home presents a compelling value proposition, particularly when viewed in a city-wide context. While its size and assessed value are more modest compared to some larger homes on its own street, it stands out significantly against the broader Winnipeg market, offering above-average space and land for the price.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of space, location, and value. It offers a substantial lot and comfortable living area that ranks well above the city average, all within a desirable, mature neighbourhood. Its assessed value is notably efficient, placing it in an elite tier city-wide, which suggests strong value retention and potential for equity growth.
This home would suit a few specific buyer types perfectly. First, it’s ideal for a growing family seeking a established community with larger lots than newer subdivisions typically offer. Second, it appeals to value-conscious buyers who prioritize getting more house and land for their budget within a reputable area. Finally, it could be a smart choice for those looking at the long-term potential of Linden Woods, where the land itself holds significant inherent value.
A less obvious perspective is that this home, while perhaps not the largest on its block, offers a manageable scale without sacrificing the prestige of the address. It represents an entry point into a high-demand area without the premium price tag of its largest neighbours, making it a pragmatic and strategic purchase.
Frequently Asked Questions
1. How does this home’s value compare to others in Winnipeg?
City-wide, the home’s assessed value is in the top 5%, meaning it is considered elite value compared to most properties in Winnipeg. This indicates you get a lot of property for the assessed valuation, especially when considering the lot size and neighbourhood.
2. Is the living space small for Linden Woods?
While the living area is below the average for Parkroyal Bay itself, it is very close to the average for the entire Linden Woods area and is significantly larger than the average Winnipeg home. It provides ample space for most families.
3. What does the sold price history tell us?
The home sold for between $500,000 and $550,000 in 2019. This historical data provides a benchmark, but the current value is best determined by a professional assessment considering today’s market conditions and the home’s unique positioning.
4. Is an older home like this a concern?
Built in 1983, the home is younger than the city-wide average. While it will likely have some components (like roof, windows, HVAC) that may need attention or updating due to age, it also benefits from being in a mature neighbourhood with established landscaping and infrastructure.
5. Why is the lot size a notable feature?
At over 8,000 sqft, the lot is above average for both Linden Woods and Winnipeg. This provides excellent outdoor space, privacy, and potential for gardening, play, or future expansion, which is a increasingly rare find in many areas.