Property Overview: 46 Blackwater Bay, River Park South, Winnipeg
This 1980-built home in the established River Park South neighborhood presents a specific value proposition. At 984 square feet on a 3,900 sqft lot, it is a compact property that stands out for its efficient use of space relative to its assessed value.
Key Characteristics & Appeal
The primary appeal of this home lies in its financial positioning rather than its size. With an assessed value of $411,000, it ranks well above the street average ($380k) and is competitive city-wide. This suggests the property is perceived to offer good value or has features not fully captured by square footage alone, possibly including updates, a desirable layout, or a premium location within the street. It last sold between $350,000-$400,000 in early 2021.
Its characteristics suit specific buyer profiles. It is an ideal entry-point into a stable neighborhood for first-time buyers or those seeking to downsize without leaving the area. The below-average maintenance (smaller yard and home) is a practical draw for empty-nesters or investors looking for a manageable rental property. A less obvious perspective is its potential as a strategic hold in a mature neighborhood; its value has held strong on its street, indicating resilience that might appeal to the long-term, value-conscious buyer.
Frequently Asked Questions
1. Is the house significantly smaller than others in the area?
Yes. At 984 sqft, the living area is below the average for the street, neighborhood, and city. This is a compact home, so buyers should prioritize efficient use of space over room count.
2. Why is the assessed value relatively high for the size?
The assessment of $411k ranks 6th highest out of 41 on the street. This premium likely reflects factors like the property's condition, specific location on the block, or improvements made since its 2021 sale. It indicates the city assessor sees value beyond pure square footage.
3. How does the lot size impact the property?
The lot is 3,900 sqft, which is smaller than most on the street and in Winnipeg. This means lower exterior maintenance but also limited space for expansions, large decks, or extensive landscaping.
4. What can the 2021 sale price tell us?
It last sold for an estimated $350,000-$400,000. Comparing that to the current $411k assessment offers a gauge of market perception and potential equity, though a professional appraisal is needed for an exact current market value.
5. Where can I get verified historical sale data?
The site notes that exact sold prices are not displayed publicly due to industry rules. They offer to manually provide the full transaction history via email upon request, which is a necessary step for precise financial analysis.