Property Overview: 63 Dedrick Bay, Winnipeg
Key Characteristics & Appeal
This 2020-built home in Ridgewood South offers a modern, move-in-ready foundation within a newer suburban community. Its key appeal lies in a balanced profile of above-average space and a relatively recent build, positioned at a value-conscious price point for the area.
With 1,895 sqft of living space, the home is larger than most in Winnipeg and slightly above average for its own street. The lot size of 5,910 sqft is also generous for the immediate area. The 2020 construction date is a significant advantage city-wide, placing it among the newest 3% of homes, which suggests modern building standards, minimal immediate maintenance, and contemporary layouts.
The most compelling characteristic is its assessed value of $458k. While this is above the Winnipeg average, it is notably below the averages for both Dedrick Bay and the broader Ridgewood South neighborhood. This creates a potential value opportunity, offering a newer, spacious home at a price that undercuts many direct comparables in the vicinity.
This property would suit first-time buyers or young families seeking a modern home without a premium price tag, as well as value-oriented buyers who recognize the advantage of a below-average assessment in an above-average area. It’s a practical choice for those prioritizing space and newness over a premium lot size within the neighborhood.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
Not necessarily. The assessed value is for municipal tax purposes. Its position below neighborhood averages may indicate value, but the final sale price will be determined by current market conditions, the home’s specific condition, and buyer demand.
2. How does the lot size compare to the rest of the neighborhood?
At 5,910 sqft, the lot is above average for Dedrick Bay but smaller than the broader Ridgewood South average of over 8,300 sqft. This suggests the street features more compact, modern lots compared to some older sections of the neighborhood.
3. What does the "Top 3%" city-wide ranking for year built mean?
It means this home is newer than approximately 97% of comparable properties across Winnipeg. This is a standout feature, significantly reducing the likelihood of major near-term repairs (like roof or furnace replacement) common in older housing stock.
4. The home sold in 2020 for between $400k-$450k. What does that history tell us?
It confirms the home was purchased new. The current assessed value suggests modest appreciation since the initial purchase, which may be appealing to buyers seeking a property without a history of rapid, speculative price increases.
5. Why is the assessed value lower than the street and neighborhood averages?
While specific reasons aren't provided, common factors include differences in finishes, upgrades, or exact location. It may also reflect a conservative assessment. This discrepancy is what makes the property a potential value find within its more expensive immediate context.