Property Overview: 207 Kisil Bay, Winnipeg
Key Characteristics & Appeal
This 1,056 sqft bungalow, built in 1970, presents a practical opportunity in Winnipeg's Munroe East neighborhood. Its primary appeal lies in offering above-average interior space for the immediate area and street, ranking in the top 21-29% for living area among local comparables. This makes it a relatively spacious option within its peer group. The home sits on a modest, manageable lot just under 3,000 sqft, which may appeal to buyers seeking lower exterior maintenance.
A notable characteristic is its significantly low municipal assessed value ($22,500), which places it in the bottom tiers (top 79-90%) compared to neighbors and the wider city. This often indicates a home ripe for modernization, appealing to value-seeking buyers comfortable with renovations. The recent 2025 sale in the $250k-$300k range, performing better relative to the area than its 2017 sale, suggests growing buyer interest in the property's potential.
This property would best suit a practical first-time buyer, an investor looking for a value-add project, or a downsizer seeking a single-level layout without a large yard to maintain. Its value proposition is centered on acquiring more interior space than is typical for the price point in the locale, with the understanding that updates may be needed.
Frequently Asked Questions
1. Why is the municipal assessed value so much lower than the likely market price?
Assessed values are used for property tax calculations and often lag behind market values, especially for homes that have not been recently renovated. A low assessment on a recently sold home typically indicates the market is pricing in future improvement potential or desirable location factors not fully captured in the tax assessment.
2. What does the "Elite" ranking for Year Built mean?
On Kisil Bay, a 1970 build date is newer than most other homes, ranking it 1st out of 34 on the street. This suggests the home may have more modern construction features than its immediate neighbors, though overall it is a mature property.
3. The lot size is ranked quite low. Is this a concern?
The lot is smaller than most in the area. This translates to less yard work and lower maintenance, which can be a benefit for many buyers. It does, however, limit potential for large additions or extensive outdoor living spaces.
4. How reliable are the sold price ranges shown?
The ranges are based on publicly available data. For precise historical sale prices, you must request the information directly via the provided email service, as exact sale prices are not publicly disclosed in Manitoba.
5. The home sold recently in 2025. What does that indicate?
A recent sale suggests the property is likely being resold quickly, possibly as a flip, an estate sale, or due to a change in circumstance for the 2025 buyer. It's advisable to inquire about any work done during that short ownership period.