Property Overview: 83 Rampart Bay, Winnipeg
Key Characteristics & Appeal
This 888 sqft home, built in 1954, presents a practical opportunity in Winnipeg's Maybank neighbourhood. Its primary appeal lies in its efficiency and position as a relatively affordable entry point into the housing market. The living space is compact but functional, ranking around the average for its immediate street. A standout characteristic is the home's age; on Rampart Bay, it is the oldest property in the data set, which could suggest well-established, mature landscaping and a classic neighbourhood character, but also implies a need for a thorough inspection of its 72-year-old systems and structure.
The assessed value is notably low compared to city-wide averages, indicating a lower property tax burden and positioning it for buyers with a limited budget or those seeking a cost-effective foundation. The lot, while smaller than most in the city, is manageable and requires less maintenance. This property would best suit first-time buyers, downsizers looking to minimize upkeep, or practical investors seeking a rental property with a lower entry cost. Its value is in its simplicity and potential, rather than in size or modern luxury.
Frequently Asked Questions
1. What does it mean that this home is the "oldest" on the street?
This indicates it was built in 1954, before most of its immediate neighbours. This can mean it has a classic layout and sits on a well-settled lot, but buyers should prioritize a thorough inspection for aging roof, plumbing, wiring, and insulation.
2. The assessed value seems very low. Is this a concern?
A low assessed value typically results in lower municipal property taxes, which is a financial positive for the owner. It reflects the municipality's valuation based on factors like size, age, and location, not necessarily the market sale price.
3. How does the smaller lot size impact living here?
The 1,885 sqft lot requires minimal yard maintenance, which is a benefit for those seeking a low-upkeep lifestyle. However, it offers limited space for expansions, large decks, or extensive gardening compared to larger city lots.
4. The home last sold between $200k-$250k in 2024. Why is that price higher than the assessed value?
Assessed value (for tax purposes) and market value (what a buyer pays) are calculated differently. The recent sale price is determined by the current market, buyer demand, the home's condition, and comparable sales, which often exceed the municipal assessment.
5. What should I consider about the living space being "around average" for the street?
This means the home's size is typical for Rampart Bay, so it likely fits the scale and feel of the neighbourhood. It won't feel unusually small or large compared to nearby houses, but at 888 sqft, efficient use of space and storage solutions will be key.