Property Overview
This home at 137 George Suttie Bay presents a practical opportunity in Winnipeg's Munroe East neighbourhood. Built in 1970, it's a notably newer home on its own street and within the local area. The 762 sqft living space is compact, ranking below average for the wider city, but it sits on a generous 4,999 sqft lot that is larger than most on the block. Its assessed value is consistent with the immediate area but sits below the Winnipeg city average, indicating a potentially accessible entry point into the market.
The appeal here is grounded in value and lot potential. For the right buyer, the larger-than-standard lot offers room for gardening, expansion, or outdoor living that is uncommon for homes at this price point. While the interior space is efficient, its newer construction (for the area) may mean fewer immediate concerns about aging components compared to neighbouring homes. This property would suit first-time buyers, downsizers, or investors looking for a manageable home with a low tax assessment and the added benefit of a sizeable yard. It’s a home for those who prioritize land over square footage and see potential in outdoor space or future improvements.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value of $29,700 is for municipal tax purposes. The market value (what a buyer would pay) is determined by current market conditions and can be higher or lower.
2. What does "below average" living area for the city mean for daily life?
With 762 sqft, the home is significantly smaller than the Winnipeg average (~1,342 sqft). This suggests a compact layout suitable for individuals, couples, or those comfortable with efficient, minimalist living. Storage and multi-use spaces will be important.
3. The lot is large for the street. Can I build an addition or a garage?
The 4,999 sqft lot provides a good foundation for potential expansions like a garage, shed, or addition. Any new structure would require checking with the City of Winnipeg for zoning bylaws, setback requirements, and necessary permits.
4. The home is newer than others on the street. What are the potential advantages?
A 1970 build date may mean updated electrical wiring, plumbing, or insulation compared to older homes in the area, potentially leading to lower immediate repair costs and better energy efficiency. However, a specific inspection is still essential.
5. There's no public sales history listed. How can I determine a fair offer price?
You can request the exact sold price history via the email service provided. For a current market evaluation, it's best to compare recent sales of similar-sized homes in Munroe East and consult with a local real estate agent.