Property Overview & Key Characteristics
50 Long Point Bay is a compact, single-family home in Winnipeg's Meadows neighbourhood. Built in 1986, its key characteristic is its modest scale: at 691 sqft of living space on a 2,999 sqft lot, it is notably smaller than most homes on its street, in the area, and across the city. This is reflected in its assessed value of $27,500, which is the lowest on Long Point Bay.
The appeal lies in its efficiency and affordability. It represents a rare entry-point into detached home ownership with very low property taxes. It suits minimalist buyers, investors seeking a rental property with a low carrying cost, or someone looking for a small, manageable footprint without the constraints of a condo. A less obvious perspective is that its older construction date (1986) is actually an advantage on its street, making it one of the newer homes in its immediate row, which may suggest more modern building materials or systems than some neighbours.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
The assessed value ($27,500) is for municipal tax purposes and is based on a provincial formula. The sold price range ($250k-$300k in 2023) reflects the actual market value buyers were willing to pay, which is influenced by market conditions, the home's interior condition, and lot value.
2. Is the living space suitable for a family?
At 691 sqft, the living area is significantly below average. It would likely suit a single person, a couple, or potentially a very small family comfortable with compact living. It is not comparable in size to a typical suburban family home.
3. What does the "Top 100%" ranking for Assessed Value on the street mean?
This means this home has the lowest assessed value (rank 54 out of 54) on Long Point Bay. While this indicates it is the least expensive home on the street for property taxes, the market sale price shows it still holds significant value as a detached property.
4. How does the lot size impact potential for expansion?
The lot is 2,999 sqft, which is smaller than most in the area. While a renovation or addition may be possible, it would be subject to zoning bylaws and may be more constrained than on a larger lot. The compact lot also means minimal exterior maintenance.
5. Where can I see more detailed context about the neighbourhood?
You can use the provided link to "Open neighbourhood map analysis" to see this property in geographic context alongside nearby homes, comparing details like year built, lot size, and assessed value directly on a map.