Property Overview: 4 Cromer Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 4 Cromer Bay in the Minnetonka neighbourhood presents a distinct profile centered on its generous lot. Built in 1973, the 924 sqft house sits on an 8,721 sqft property—a lot size that ranks well above average for its street, area, and the wider city. This creates a notable dynamic: the living space is modest and below the local averages, but the outdoor space is a significant asset.
The primary appeal lies in this land-to-building ratio, offering ample room for gardening, expansion, or outdoor recreation in a mature neighbourhood. Its assessed value is relatively moderate for the area, suggesting a potentially accessible entry point into the market. The home’s recent sale history indicates steady market interest.
This property would best suit practical buyers who prioritize land over a large existing footprint. It’s a fit for first-time homeowners comfortable with a cozy interior, downsizers seeking manageable indoor space with room to garden, or investors/renovators who see potential in the substantial lot for future improvements or additions. It appeals to those who find value in outdoor privacy and potential, rather than in move-in-ready, expansive square footage.
Section 2: Frequently Asked Questions
1. Is the house small for the neighbourhood?
Yes. The living area of 924 sqft is below the average for comparable homes on Cromer Bay, in Minnetonka, and across Winnipeg. The home’s standout feature is its lot, not its interior size.
2. What does the "above average" lot ranking mean?
The 8,721 sqft lot is larger than over 90% of residential lots city-wide and is the largest among the nine directly comparable properties on Cromer Bay. This is the property's most competitive statistical advantage.
3. How has the property’s value changed recently?
Public data shows a sold price range of CA$400k–450k in 2024, up from a range of CA$300k–350k when it sold in 2019. This indicates appreciation, though exact figures require direct inquiry.
4. What is the neighbourhood context for this value?
The home’s assessed value is around the street average but below the average for the wider Minnetonka area. This suggests it may be priced accessibly within a desirable location, with property taxes likely reflecting the lower assessment.
5. What are the less obvious considerations?
A home from 1973 on a large lot may mean higher relative costs for exterior maintenance (e.g., fencing, landscaping) and potential updates to older building systems. The value proposition hinges heavily on how much a buyer will utilize or develop the land to offset the smaller interior.