Property Overview
3 Byars Bay is a 988 sqft bungalow built in 1969, situated on a generous 5,997 sqft lot in Winnipeg's Munroe East neighbourhood. Its key appeal lies in its balance of a spacious yard—which is notably larger than many in the immediate area—and a manageable, efficient floor plan. The home presents a practical opportunity rather than a luxury offering, with an assessed value that positions it as an accessible entry point into the market.
This property would suit first-time buyers or practical downsizers looking for a solid foundation in a stable neighbourhood. Its above-average lot size for the area offers room for gardening, play, or future expansion, which is a valuable but less obvious asset. The home’s age and below-average living area relative to its street suggest it may be ideal for someone comfortable with a property that has retained its original character, possibly requiring updates. It’s a home for buyers who prioritize land and location over turn-key finishes.
Frequently Asked Questions
1. How does the home’s size compare to others nearby?
At 988 sqft, the living area is slightly below the average for Byars Bay street (1,067 sqft) but is very close to the average for the wider Munroe East area (1,009 sqft). It offers a compact, efficient layout.
2. What is the significance of the lot size?
The 5,997 sqft lot is a standout feature. It ranks in the top 12% for size within Munroe East, meaning you get significantly more outdoor space than many neighbouring properties, which average under 5,000 sqft.
3. What does the assessed value indicate?
The assessed value of $31,200 is below the average for its specific street but is around the average for both Munroe East and the city overall. This suggests the property is fairly valued within the broader market context, not over-assessed.
4. The home sold between $300k-$350k in 2021. What does that recent history suggest?
That sale price placed the home in the top 22% for the area at the time, indicating strong buyer interest. This history, combined with the current assessed value, points to a property that has been seen as a desirable asset in its category.
5. Who might this property not suit?
Buyers seeking a large, modern interior or a fully renovated home may find the below-average square footage and 1969 vintage limiting. It’s better suited for those who see potential in the existing structure and value the substantial lot.