Property Overview
22 Biscayne Bay is a well-maintained 1,032 sqft bungalow built in 1954, situated on a 3,137 sqft lot in Winnipeg's Maybank neighbourhood. Its appeal lies in its strong standing within its immediate, established street and area. While its size and lot are modest by broader city standards, the home ranks in the top 3% for living area and top 2% for year built among the 60 homes on Biscayne Bay itself, indicating it is one of the larger and more mature properties on this specific street. The assessed value of approximately $26,900 is above average for the bay, suggesting it is in good condition relative to its direct peers.
This home would suit a first-time buyer or downsizer looking for a manageable, character home in a settled community. It’s particularly suited for someone who values being among the larger, more established homes on their specific block rather than seeking a maximum-sized lot or modern floor plan. The recent sale history (between $200k-$250k in 2023) points to a practical entry point into the market.
Key Questions & Considerations
1. Why is the assessed value so much lower than the recent sale price?
This is typical. Municipal assessed values for tax purposes often lag behind and use a different methodology than the open market, so the sale price is the true indicator of current market value.
2. How does the lot size compare?
The lot is average for Biscayne Bay but below average for both the wider Maybank area and the city. This means smaller outdoor space but likely less maintenance, fitting the profile of a manageable property.
3. What does its high ranking on the street actually mean?
It means that compared to its closest neighbours, this home is one of the largest (top 3%) and oldest (top 2%). This can imply a sense of established character and potentially more interior space than other options right on the same bay.
4. Are the nearby similar-value properties good comparables?
The listed properties with similar assessed values include several condo units, which are not direct comparables for a detached house. For a true market comparison, focus on the "Nearby properties" on Biscayne Bay and the provided "For reference" sold listing on Rampart Bay.
5. How can I get the exact past sale price?
As noted, the exact sold price is provided upon request via email to the listing service. The public range of $200k-$250k (2023) provides a solid benchmark for your initial evaluation.