Property Overview: 3 Furness Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1985-built home in River Park South presents a practical opportunity in a mature neighbourhood. With 1,101 sqft of living space on a 5,045 sqft lot, its size is comfortably average for both the area and the city. The home’s assessed value of $388K sits below the average for its specific street, suggesting it may offer relative value within a well-established pocket of the community.
The primary appeal lies in its positioning as a solid, no-surprises entry point into a stable neighbourhood. It suits first-time buyers or downsizers seeking a manageable property without the premium often attached to newer or larger homes on the same street. A thoughtful perspective is that while the home ranks below street averages in size and value, it aligns closely with broader city norms. This indicates you’re acquiring a functionally typical Winnipeg home, but on a street where many properties are notably larger or more valuable, which can be a positive for long-term neighbourhood character and stability. The lot size, while slightly smaller than others on Furness Bay, still provides ample suburban outdoor space.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to likely market price?
The assessed value of $388K is for municipal tax purposes. Notably, it is below the street average of ~$439K. Market price is determined by current conditions, but this gap suggests there may be room for value appreciation to align more closely with its immediate surroundings, depending on the home's condition and updates.
2. Is the living space significantly smaller than neighbouring homes?
At 1,101 sqft, it is below the street average (1,425 sqft) but near the neighbourhood (1,410 sqft) and city (1,342 sqft) averages. It offers a manageable layout, likely appealing to those seeking efficient living without excessive maintenance.
3. What is the context of the last sold price?
Records show it sold between $300K-$350K in August 2021. This historical price is provided as a data point; it reflects the market at that time and should not be used in isolation to determine current value.
4. How does the year built affect this home?
Built in 1985, it is typical for River Park South. This era of home may have original components that could benefit from updates, but it also avoids some of the maintenance unknowns of much older properties. It’s newer than the city-wide average for comparable homes.
5. Where can I get verified sale history and exact figures?
The site notes that full transaction histories and exact sold prices are not displayed publicly due to industry rules. They offer a manual lookup service via email to provide those verified figures upon request.