Property Overview
38 Bernard Bay is a distinctive property in Winnipeg's Mission Gardens neighbourhood. Its appeal is rooted in a rare combination of generous space and established location, offering a specific value proposition in the current market.
Key Characteristics & Ideal Buyer
The standout feature of this home is its exceptionally large lot of over 18,300 square feet, which ranks in the top 1-2% compared to both the immediate area and the entire city. This provides unparalleled potential for privacy, expansion, or landscaping. The living area of 1,720 sq ft is also notably spacious, placing it well above average for its street and neighbourhood.
Built in 1976, the home is of a vintage where significant maintenance or modernization may be a consideration, but it sits in a mature, stable community. The recent sale price (2024) and assessed value suggest it is positioned as a premium property within its immediate locale, while being more aligned with city-wide averages.
This property would best suit a buyer who prioritizes land size and interior space over a turn-key, modern finish. It’s an ideal canvas for someone looking to customize or renovate a home to their taste on a lot that is increasingly hard to find. It also appeals to those seeking a established neighbourhood feel with room to grow, making it a potential long-term family home.
Frequently Asked Questions
1. How does the lot size truly compare to a typical city lot?
The lot is approximately three times the size of the average lot in the Mission Gardens area and nearly three times the city-wide average. This is the property's most exceptional characteristic.
2. The home was recently sold in 2024. What might this indicate?
A recent sale can suggest a few things: it may have been a flip, an estate sale, or a short-term ownership. It underscores the importance of a thorough inspection to understand any recent changes or underlying conditions before a new purchase.
3. The assessed value is significantly lower than the recent sale price. Why?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The sale price is a direct reflection of current market demand, which for this property is driven by its rare lot size and space.
4. What are the less obvious considerations with a 1976-built home?
While systems like plumbing and electrical may have been updated, original components could be nearing the end of their service life. The architectural style and layout are also typical of the mid-70s, so evaluating if the floorplan fits modern living needs is important.
5. What is the neighbourhood context of Mission Gardens?
The data shows that on Bernard Bay and in Mission Gardens, this home is among the elite in terms of size and value. This suggests it is one of the larger, more substantial properties in a perhaps otherwise modest neighbourhood, which can be an advantage for privacy and value retention.