Property Overview
This home at 22 George Suttie Bay in Winnipeg’s Munroe East neighbourhood presents a specific and value-oriented opportunity. Built in 1971, it stands out as one of the newest homes on its street. With 858 square feet of living space, it offers a compact layout that is typical for the immediate area but smaller than the broader city average. The lot is a generous, nearly 5,000-square-foot parcel, providing ample outdoor space relative to the home's footprint. The property’s assessed value is notably strong compared to its direct neighbours and wider area, suggesting it is well-maintained or offers features that add perceived value locally.
Its Appeal & Ideal Buyer
The primary appeal lies in its efficient use of space and its position as a newer-built home in an established area—a relative rarity that can mean fewer immediate concerns with aging infrastructure. The large lot is a significant asset, offering potential for gardening, expansion, or simply more private outdoor room than many modern infill properties. This home would suit a first-time buyer, a downsizer, or an investor looking for a manageable property with a solid value foundation in a mature neighbourhood. It’s for someone who prioritizes land size and a newer build date over square footage, and who sees the value in a home that stands out positively within its immediate community context.
Frequently Asked Questions
1. Is the living space too small?
At 858 sq ft, the home is compact. It’s perfectly sized for a couple or small household and is actually average for houses directly on George Suttie Bay. Buyers should consider if the layout meets their needs, as the generous lot size may offset a smaller interior for those who value outdoor space.
2. Why is the assessed value higher than many neighbours?
The assessment ranks in the top 22% for Munroe East. This can be influenced by the home’s newer construction year (1971), its above-average lot size, and its overall condition relative to older neighbours. It indicates the municipality views it as a higher-value property in its local market.
3. What does the 1971 build year mean for maintenance?
While newer than most on the street, a 55-year-old home still requires diligent upkeep. The advantage is that major systems (like plumbing or electrical) might be from a later era than those in homes built in the 1950s or earlier, but they will still need inspection and may be due for updates.
4. How does the last sale price (2019, $250k-$300k) relate to today’s value?
The past sale provides a historical benchmark, but market conditions have likely shifted since 2019. The current assessed value of $32,200k is an official estimate for taxation, not market price. A current appraisal or comparative market analysis would be needed to determine today’s fair market value.
5. What are the real benefits of the large lot?
Beyond gardening and privacy, a 4,998 sq ft lot in an established neighbourhood is a long-term asset. It provides flexibility for future additions like a shed, deck, or even a home extension (subject to zoning). It also typically contributes significantly to the property’s overall value and appeal.