Property Overview
38 Sand Point Bay is a well-established home in Winnipeg's Meadows neighbourhood, built in 1987. Its standout feature is an exceptionally large, private lot of over 9,300 square feet, which ranks in the top 5% for size both on its street and in the broader area. The 1,455 sqft living space is comfortably average for the city, while its assessed value of $480,000 positions it above average for the neighbourhood, suggesting a premium for its location and land.
The home’s primary appeal lies in its rare lot size, offering significant outdoor space and potential in a mature setting. It suits buyers looking for a established neighbourhood character with room to garden, entertain, or potentially expand. It’s a solid choice for those who value space and privacy over a brand-new build, and who are prepared for the maintenance or updates that can come with a home of this vintage. A thoughtful perspective is that this property represents a land-value opportunity; the lot itself is a scarce commodity that appreciates independently, while the home provides functional living space.
Frequently Asked Questions
1. How does the age of the home (built in 1987) affect its value?
While older than many on its street, the home is actually newer than the Winnipeg city average. Its age means it may benefit from mature landscaping and established infrastructure, though buyers should budget for potential updates to systems like roofing, windows, or HVAC that are nearing a typical lifespan.
2. The assessed value is $480k, but it sold for an estimated $500k-$550k in 2022. Which figure is more relevant?
The 2022 sale price reflects what a buyer actually paid in the recent market, while the assessed value is for municipal tax purposes. The sale price is a stronger indicator of current market value, and the fact it sold above assessment suggests strong buyer demand for properties like this.
3. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is in the top 5% when compared to similar homes on Sand Point Bay and in the Meadows area. You have a much larger yard than virtually all your immediate neighbours, which is a key differentiator.
4. Is the living space of 1,455 sqft sufficient for a family?
The living area is very close to the average for both the street and the city, indicating it's a standard family-sized layout. It should accommodate a typical family, with the significant bonus of ample outdoor space for children and pets that newer subdivisions often lack.
5. Why is the assessed value considered "above average" for the area?
The home is ranked in the top 21% of the Meadows neighbourhood by assessed value. This higher valuation likely reflects the desirable lot size, the specific location on Sand Point Bay, and the home's condition and improvements at the time of assessment.