Property Overview: 16 Biscayne Bay, Winnipeg
Key Characteristics & Buyer Appeal
This home at 16 Biscayne Bay in Maybank is a study in contrasts, offering a unique value proposition for a specific buyer. Its key characteristic is its modest scale: at 888 sqft of living space on a 1,866 sqft lot, it is notably compact compared to most homes on its street, in Maybank, and across Winnipeg. This results in a very low municipal assessed value ($24,400), which is significantly below city averages.
The appeal lies in its efficiency and location. Built in 1954, it is the oldest home on Biscayne Bay, suggesting a well-established streetscape. For a buyer seeking an affordable entry into a stable neighbourhood without needing extensive space, this represents a low-barrier opportunity. It would suit a first-time homebuyer, an investor looking for a rental property, or someone seeking to downsize into a manageable, low-cost holding. The recent sale history (2022, CA$200k-250k) indicates a market price consistent with its compact nature.
A less obvious perspective is that its small lot and living area, while limiting for some, translate to minimal maintenance and lower utility costs. This isn't a property for sprawling or large families, but rather for pragmatic living focused on location over size.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based heavily on the home's physical attributes—specifically its below-average living area and very small lot size compared to typical Winnipeg homes. This results in a lower valuation than larger properties.
2. What does it mean that it's the "oldest" home on the street?
The data shows it was built in 1954, making it older than the average home on Biscayne Bay. This can suggest a classic, established character but also implies that the condition of major aging components (like roof, plumbing, wiring) should be a key focus during an inspection.
3. Who would this property not be suitable for?
It would likely not suit buyers who need multiple bedrooms, dedicated home office space, extensive storage, a large yard, or who entertain large groups frequently. The compact living and land area are its defining constraints.
4. The sold price from 2022 seems higher than the current assessed value. Why?
Municipal assessed value for tax purposes is not the same as market value. The 2022 sale price reflects what a buyer was willing to pay in the open market at that time, which can be influenced by factors like interior updates, market conditions, and buyer demand that are not fully captured in the tax assessment.
5. How can I get the exact historical sold price?
The exact sale price is not publicly displayed in detail due to data privacy practices. You can request the precise figure by emailing the provider through the form on the listing page; they provide this information manually without using your email for unsolicited marketing.