Property Overview
This 696 sqft bungalow at 119 George Suttie Bay, built in 1970, presents a specific and value-oriented opportunity in Winnipeg’s Munroe East neighborhood. Its key appeal lies in its proportionally large, 5,594 sqft lot—significantly above average for both its immediate street and local area—paired with a very modest municipal assessed value. The home itself is compact, ranking below average in living space for the wider city, but is typical for its specific street. This creates a distinct profile: a property where the land itself is a standout feature relative to the building. It would suit a practical buyer looking for an affordable entry into homeownership with room to expand or garden, or an investor seeking a land-value play with a rentable existing structure. It’s less suited for those seeking immediate move-in condition or ample interior space without renovation.
Frequently Asked Questions
1. Is this a good value for a first-time buyer?
Based on its assessed value, it represents one of the more affordable entry points in the city. The low taxes associated with the assessment are a definite advantage, but buyers should budget for potential updates, as the home is over 50 years old.
2. How does the lot size compare to others?
The lot is a key feature. At over 5,500 sqft, it is larger than most on its street and in the Munroe East area, offering more outdoor space than you might expect for the price point.
3. What does the sold price history indicate?
It last sold between $200k-$250k in 2017. This historical price, significantly higher than the current assessed value, suggests the market has previously valued it in that range. It’s important to get an exact price and current market evaluation.
4. Is the living area too small?
At 696 sqft, the living space is efficient. It ranks around average for its own street but is below the city average. It would suit a single person, a couple, or someone comfortable with a compact, manageable layout.
5. Why is the city-wide assessed value comparison so different?
The city-wide average includes all property types and values across Winnipeg. This home’s assessed value is in the bottom 25% city-wide, highlighting its position as a more budget-conscious option compared to the typical Winnipeg home.