7 Biscayne Bay

Property Overview: 7 Biscayne Bay, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 7 Biscayne Bay in Maybank is a study in desirable positioning within its immediate neighbourhood. Built in 1954, it stands out on its street as one of the older, well-established properties, which can often signal a mature, stable streetscape. With 1,032 sqft of living space, it offers more room than most comparable homes directly on Biscayne Bay, making it a notably spacious option in its specific micro-area. The assessed value is above average for the street, yet remains significantly lower than both the wider Maybank area and city averages, suggesting a potentially accessible entry point into a sought-after location.

Its primary appeal lies in this strong positioning within its own enclave. Buyers get a home that ranks highly on its street for living space, age, and value, while the overall metrics for Maybank and Winnipeg provide context for its affordability. This property would suit a practical buyer who values neighbourhood character over a massive lot, as the land size is modest compared to broader areas. It’s ideal for someone looking for a solid, established home in a mature community without the premium price tag of a larger, newer property city-wide.

Section 2: Frequently Asked Questions

1. How does the sold price range (CA$250k–300k in 2024) relate to the much lower assessed value?
Assessed value in Manitoba is for tax purposes and is typically a fraction of a property's market value. The recent sold price is the true indicator of its worth on the open market.

2. The home ranks "below average" for land area in Maybank. Is the lot a drawback?
While the lot is smaller than the Maybank average, it is nearly average for Biscayne Bay itself. This indicates the street may consist of cozier, well-kept properties. It suits those who prefer less yard maintenance while still having outdoor space.

3. What does it mean that the home is "Elite" for year built on its street?
This statistical ranking means it's one of the oldest homes on the block. For many buyers, this is a positive, indicating a classic, established property in a mature neighbourhood with likely larger trees and settled infrastructure.

4. The living area is above average for the street but below average city-wide. Who does this suit best?
This is perfect for buyers who prioritize location and neighbourhood feel over maximum square footage. It offers more space than immediate neighbours but remains a manageable size for smaller households or first-time buyers.

5. Why is the assessed value for the area and city so much higher?
The "area" (Maybank) and city averages include a wide variety of homes, including many that are newer, larger, or on significantly bigger lots. This property's value is contextualized best against its direct neighbours on Biscayne Bay, where it holds its own.