Property Overview
This home at 17 Biscayne Bay in Winnipeg's Maybank neighbourhood presents a distinct value proposition rooted in its specific context. Its appeal is less about standing out city-wide and more about its relative strength within its immediate, established community.
Key Characteristics & Ideal Buyer
The home is a 1,032 sqft bungalow built in 1954, situated on a 3,637 sqft lot. Its key characteristic is its strong positioning within the Biscayne Bay street and Maybank area. While its size and assessed value are below Winnipeg averages, they rank well above average for its own street. For instance, its living area is in the top 3% on Biscayne Bay, and its lot size is in the top 28%. This indicates it is one of the larger, more substantial properties in this specific locale.
Its appeal lies in offering a solid, well-sized home in an established neighbourhood without the premium price tag of newer or larger suburban lots. It suits a pragmatic, value-conscious buyer—perhaps a first-time homeowner, downsizer, or investor—who prioritizes space and character within a mature community over a brand-new build. This buyer appreciates that the home is a standout on its own block and understands that city-wide comparisons aren't always the most relevant metric for neighborhood living.
Frequently Asked Questions
1. Why is the assessed value relatively low compared to the city average?
The assessed value of approximately $25,700 is based on municipal valuation for tax purposes and reflects the home's age, type, and the general price level in its immediate area. It is notably above average for Biscayne Bay itself. City-wide averages are skewed higher by newer, larger homes in different market segments.
2. How does the 1954 build year affect the home?
While 72 years old, this build year is actually the oldest on Biscayne Bay, giving the home a sense of established character. Buyers should budget for potential updates common to homes of this era, but also recognize it represents the original fabric of the neighbourhood.
3. The last sold price range (2019) is much higher than the current assessed value. Why?
The sold price (CA$200k-250k) is the market price from 2019. The assessed value is an administrative valuation for property taxes, which typically lags behind and is calculated differently from market value. They are not directly comparable figures.
4. What do the "top X%" rankings actually mean?
They show how this property compares to specific groups of "comparable homes." For example, its living area is larger than 97% of similar homes on Biscayne Bay (Top 3%), but only larger than 29% of similar homes city-wide (Top 71%). This highlights the importance of evaluating a property within its local context.
5. How can I get the exact historical sold price?
The exact sale price is not publicly listed. The listing service offers to provide it manually via email upon request, stating they aim to reply by the end of the same day without using the contact for unsolicited marketing.