Property Overview & Key Characteristics
This home at 22 Tranquility Cove is a compact, well-priced bungalow built in 1972, offering a practical entry point into Winnipeg's River East neighborhood. Its primary appeal lies in its relative affordability within a stable area, as its assessed value of $312k sits notably below neighborhood averages. The 832 sqft living area is modest, ranking below most comparable homes locally, which positions it as a true starter home or a downsizing opportunity.
The property suits first-time buyers seeking a manageable footprint and lower carrying costs, or investors looking for a rental property with a reasonable entry price. A thoughtful perspective is that its smaller size and lot (5,000 sqft) translate to less maintenance and lower utility costs—a significant, often overlooked advantage. While it doesn't offer spaciousness, its year-built is the newest on its street, suggesting potentially fewer immediate updates than older neighbors. It’s a home that prioritizes financial accessibility and simplicity over size.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $312k is a benchmark for municipal taxes, not a market price. Given it's below area averages, it suggests a competitive starting point, but the final sale price will depend on market conditions, the home's interior condition, and recent upgrades.
2. How does the smaller living area impact daily living?
At 832 sqft, the home is efficient but compact. It likely accommodates one or two occupants comfortably. Buyers should consider if the layout is open and functional for their needs, as space for storage and entertaining will be limited.
3. What are the implications of the home being the newest on the street?
Built in 1972 and ranked #1 on its street for year-built, it may have benefited from slightly newer construction standards or materials than immediate neighbors. However, a home of this age will still require a thorough inspection for foundational, roofing, plumbing, and electrical systems common to that era.
4. The lot is smaller than average. Is there room for expansion or gardening?
The 5,000 sqft lot provides standard backyard space for a city home but less than many in River East. Significant expansions or additions may be limited by lot coverage bylaws. It's suitable for a patio or small garden but not for extensive outdoor structures.
5. How can I verify the past sale price mentioned for 2016?
The site provides estimated sale price ranges. For fully verified, exact historical sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.