Property Overview: 4 Biscayne Bay, Winnipeg
Key Characteristics & Buyer Appeal
This home at 4 Biscayne Bay in Maybank is a study in contrasts, offering a unique value proposition. Built in 1954, it is notably one of the oldest homes on its street, which may appeal to those appreciating established character and mature neighbourhoods. With 888 sqft of living space, it is a compact and manageable bungalow, sitting below the average size for both the immediate area and the wider city. Its most defining feature is its assessed value of $22,800, which is significantly below average for Winnipeg, indicating very low property taxes—a major, ongoing financial benefit.
The appeal lies in its affordability and efficiency. It suits first-time buyers, downsizers, or investors seeking a low-cost entry into the Winnipeg market with minimal tax overhead. The lot size, while modest compared to city averages, is typical for the street. A thoughtful perspective is that this property represents a "value-over-space" trade-off; it prioritizes financial efficiency and location within Maybank over square footage. Buyers should be prepared for a home that may require updates, given its age, but offers the budgetary freedom to renovate gradually.
Frequently Asked Questions
1. What does the "below average" assessed value mean for me?
It primarily means your annual property taxes will be substantially lower than on a typically assessed home. This is a key long-term saving, but it's also an indicator that the municipal assessment is low relative to the market, which is common for older, smaller homes.
2. Is the living space too small?
At 888 sqft, it is certainly compact. It would best suit individuals, couples, or small families comfortable with efficient living. The nearby reference property at 88 Rampart Bay (1,032 sqft) suggests slightly larger layouts exist in the area, providing a useful comparison for space expectations.
3. As one of the oldest houses on the street, should I be concerned?
Its 1954 build date means systems like plumbing, electrical, and the roof may be at or beyond their typical lifespan. A thorough inspection is essential. The upside is that the neighbourhood itself is well-established with mature infrastructure and landscaping.
4. How does the last sold price range (2021: $200k-$250k) relate to today's value?
That historical range is a benchmark from four years ago. Current value will be influenced by market changes, any improvements made since, and its unique tax advantage. It’s a starting point for research, not a current appraisal.
5. Who would this property NOT suit?
It likely wouldn't suit buyers looking for a move-in-ready, modern open-concept layout without renovation work. It's also less ideal for those who need multiple bedrooms, dedicated home office space, or who place a premium on having a large private yard.