Property Overview: 14 Biscayne Bay, Winnipeg
Key Characteristics & Appeal
This home at 14 Biscayne Bay in Maybank presents a compelling mix of established value and modest scale. Built in 1954, its key characteristic is its standout assessed value of $280,000, which ranks in the elite top 5% on its own street. This suggests the property is viewed as a high-value asset relative to its immediate neighbors. However, with 888 sqft of living space and a 1,886 sqft lot, it offers a more compact footprint, ranking around or below area averages for size. Recent sales data indicates it has traded in the $250k-$300k range.
The appeal lies in this contrast: it’s a potentially equity-strong property in a mature neighborhood without the premium often attached to larger homes. It suits practical buyers looking for an established, lower-maintenance property where investment value may already be solidified in the assessment. It could be ideal for a first-time buyer, a downsizer, or an investor seeking a stable asset in a neighborhood of older, varied homes, where the land and location contribute significantly to the worth.
Frequently Asked Questions
1. Why is the assessed value so high compared to the living area?
The assessed value, which is significantly above the street average, reflects more than just square footage. It likely incorporates the property’s location, the land value, recent sales trends on the street, and the overall desirability of the Maybank neighborhood, suggesting the official valuation sees strong underlying value here.
2. What does the "below average" land area mean for me?
With a lot size below area averages, the yard and outdoor space will be more compact. This translates to less maintenance, which can be a benefit, but may limit options for expansions, decks, or extensive gardening compared to homes on larger lots in Winnipeg.
3. The home was built in 1954. What should I consider?
As a home from the mid-1950s, prospective buyers should budget for and prioritize a thorough inspection. While the core structure is proven, this age typically means original components like plumbing, electrical, and the roof may be nearing or past their service life and could require updates.
4. How reliable are the sold price ranges shown?
The provided price ranges are based on available public data. For precise historical sale figures, you need to request the exact sold price history via email from the site, as they manually verify and provide this detail to ensure accuracy.
5. Who are the most likely neighbors or comparable buyers?
Given the home’s size and value profile, your immediate neighbors likely include a mix of long-term residents in similar vintage homes and newer owners who value the established neighborhood feel. Comparable buyers are often those prioritizing financial prudence and location over sheer square footage.