Property Overview: 3 Elsbury Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 3 Elsbury Bay in River Park South is defined by its compact efficiency and relative value within a mature, established neighborhood. Its key characteristic is its modest 680 sqft living area, which is notably smaller than most homes on its street, in River Park South, and across Winnipeg. Built in 1985, the home is of average age for its immediate area. The assessed value of $331k sits below the neighborhood average but is closer to the city-wide benchmark, suggesting the price reflects the smaller size rather than location.
The primary appeal lies in its potential as an affordable entry point into a sought-after neighborhood. It suits first-time buyers, downsizers, or investors seeking a lower-maintenance property without sacrificing access to the area's amenities. A thoughtful perspective is that this smaller footprint can mean significantly lower utility and maintenance costs, offering a different kind of financial efficiency beyond the purchase price. The lot, while smaller than the neighborhood average, is reasonably sized for its street, offering manageable outdoor space.
Section 2: Frequently Asked Questions
1. Is this a good value for the neighborhood?
The assessed value is below the River Park South average, primarily due to the home's smaller size. For a buyer who doesn't need extensive square footage, it represents a more accessible price point in a desirable area.
2. How does the living area compare to nearby homes?
At 680 sqft, the living area is significantly smaller than most comparable homes on Elsbury Bay (avg. 978 sqft) and in the wider River Park South area (avg. 1,410 sqft). It is a compact, efficient layout.
3. What is the history of sold prices for this home?
Public records indicate it last sold between $250k-$300k in April 2021. For fully verified and exact historical sale figures, a manual lookup through the site's email request service is recommended, as this data is not sourced from the MLS.
4. How does the year built affect this property?
Built in 1985, the home is of average age for its street and neighborhood. This typically means established infrastructure and mature landscaping, but buyers should budget for potential updates common to homes of this era.
5. Are the property taxes likely to be high?
Property taxes are based on the assessed value. With an assessment ($331k) that is below the neighborhood average, the tax burden may be comparatively lower than for larger homes in River Park South, though mill rates apply.