Property Overview
This home at 113 George Suttie Bay in Winnipeg’s Munroe East neighbourhood presents a specific and practical opportunity. Built in 1970, it’s a notably newer home compared to many others on its street and in the immediate area. With 696 square feet of living space, it is compact, placing it well below the average home size for both the wider area and the city. The lot size of 4,778 square feet is fairly standard for the street. A key figure is its assessed value of $26,100, which is consistently below average across all comparison levels, from its own street to the entire city. The property last sold for an estimated $250k–$300k in 2023.
Key Characteristics & Appeal
The primary appeal of this property lies in its efficiency and relative newness within its context. It suits a buyer looking for a modest, low-assessment footprint—whether a first-time homeowner, an investor, or someone seeking to downsize without a large lot to maintain. Its below-average assessed value can be a double-edged sword; it suggests a potentially lower tax burden but also reflects its smaller size and may indicate a need for updates. The lot provides a good amount of outdoor space relative to the home's size, offering room for gardening or expansion. This isn’t a home for someone seeking ample indoor space, but rather for a pragmatic buyer who values a newer structure in a mature neighbourhood and sees potential in a manageable project or a straightforward, affordable entry into the market.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
Assessed value for property tax purposes is often lower than market value. The 2023 sale price reflects what a buyer was willing to pay in the open market, while the assessment is an administrative valuation that may not keep pace with rapid market changes.
2. What does the "above average" year built ranking mean for me?
Being built in 1970 makes this home newer than most on its street and in Munroe East. This can be advantageous, potentially meaning fewer issues with outdated building materials or systems common in older homes, though a full inspection is still essential.
3. Is the living area too small?
At 696 sqft, it is significantly smaller than the Winnipeg average. It would suit a single person, a couple, or someone looking for a minimalist lifestyle. The layout and functionality of the space will be more important than the square footage alone.
4. How does the below-average ranking for assessed value affect property taxes?
A below-average assessment generally leads to a below-average municipal tax bill compared to larger, higher-valued homes in the city. However, the final tax amount is also determined by the annual municipal mill rate.
5. Can I get the exact historical sold price?
The exact sold prices are not publicly displayed due to data licensing. You can request the precise history by emailing the site; they provide this information manually without using your email for marketing.