Property Overview: 7 Rampart Bay, Winnipeg
Key Characteristics & Appeal
This 1954-built home in Maybank presents a distinct profile. Its primary appeal lies in being a well-sized, established property in a neighbourhood of similar vintage. At 1,032 sqft, the living space is notably above average for its immediate street and area, offering more room than many direct comparables. The lot size of 3,339 sqft is also generous for the street. However, the home’s assessed value is significantly below average across all comparison levels, suggesting it may be an opportunity for value-conscious buyers or those looking for a property with renovation potential.
Its strongest suit is its living area relative to the local market, making it a practical choice for small families or those needing space without a premium price tag. The buyer it would suit is likely a pragmatic first-time homeowner, an investor, or a hands-on buyer who sees value in the existing structure and lot size, and is less concerned with a modern assessment or the need for potential updates. A less obvious perspective is that its "below average" valuation, paired with its "above average" living space for the area, creates a specific niche: it’s a house that prioritizes interior square footage over perceived market value, which can be ideal for someone focused on utility and long-term equity building rather than immediate prestige.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal valuation for tax purposes, which considers factors like age, condition, and recent sales in the area. A value significantly below averages, especially for a home with above-average living space on its street, often indicates the assessment reflects an older condition or a market lag, potentially highlighting a value opportunity.
2. How does the 1954 build year affect the property?
Being one of the oldest homes on the street (ranked in the top 2%), it comes with the character and established landscaping of an older neighbourhood. Buyers should budget for potential updates to major aging components like plumbing, electrical, or the roof, which is typical for homes of this era.
3. Is the sold price history from 2016 relevant today?
The last known sale (between $150k-$200k in 2016) provides a historical benchmark but does not reflect current market value. It’s most useful for understanding the property’s price trajectory over a long period, not for determining today’s price.
4. What does "above average living area for the street" actually mean for me?
It means that within its direct neighbourhood of similar homes, this house offers more interior space than most. You are likely getting more square footage per dollar here than you would from many neighbouring properties, which is a key efficiency metric for homeowners.
5. Who are the most logical buyers for this specific property?
This home is particularly suited for buyers who prioritize actual living space over a high assessment, and who are comfortable with a property that may require work. It’s a strategic fit for an owner-occupant planning gradual renovations or an investor looking for a functional rental property with a value-based entry point.