Property Overview: 2 Pembridge Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated home in Meadowood presents a compelling blend of space, value, and established neighbourhood character. Built in 1973, the 1,040 sqft house sits on a generous 6,000 sqft lot. The data reveals its standout appeal is highly contextual: while its size and assessed value are around the city-wide average, they rank significantly higher within its immediate street and neighbourhood. Specifically, its living area is in the top 7% on Pembridge Bay, and its assessed value is in the elite top 4% on the street and top 22% in Meadowood. This suggests a property that offers above-average substance for its specific, desirable locale.
The appeal lies in securing a home that outperforms many of its direct neighbours in key metrics, indicating a solid investment within a mature community. It suits practical buyers who value lot size and interior space relative to their immediate surroundings over a brand-new build. It would also attract those who understand that a higher assessed value on the street can signal a well-maintained or updated home in a consistent area, potentially offering stability. The recent sale in the $450k-$500k range further anchors its market position.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home was assessed at $40,800 but sold for between $450,000 and $500,000 in 2024. This large difference is normal; municipal assessed value for taxation purposes typically lags far behind actual market value.
2. Is the living area considered small?
At 1,040 sqft, it is slightly below the city-wide average. However, context is key. On its own street, it ranks in the top 7% for size, meaning it is actually one of the larger homes among its direct neighbours.
3. What does the "Elite" ranking for Year Built mean?
It means that, on Pembridge Bay, this 1973-built home is one of the newest. With a rank of 1 out of 46, it is the newest or among the very newest houses on the street, which is a positive in an older neighbourhood.
4. Are the property taxes likely to be high?
Not necessarily. While the assessed value is high for the street, property taxes are calculated using a mill rate applied to the assessed value. The $40,800 assessment is relatively low, which would typically result in a lower tax bill than a home with a market-value assessment.
5. The home sold recently. What does that indicate?
The 2024 sale suggests the property is likely to be in move-in condition, having transacted very recently in a modern market. It provides a clear, current price benchmark for the area, reducing guesswork about its value.