Property Overview: 50 Elsbury Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1985-built home in River Park South presents a practical and affordable entry point into a well-established Winnipeg neighborhood. With 888 square feet of living space on a 3,613 sqft lot, its scale is modest, ranking below area averages for size. This very characteristic defines its core appeal: it’s a manageable, lower-maintenance property with a correspondingly accessible price point, as reflected in its $343k assessed value which sits below the neighborhood average but aligns with the citywide median.
The home’s appeal lies in its efficiency and location. It suits first-time buyers seeking a foothold in a mature community without the upkeep of a larger property, or investors looking for a relatively recent vintage rental property (1985 is newer than the Winnipeg average). A thoughtful perspective is that its "below-average" size and lot, when compared to the immediate area, actually translate to lower utility costs and less yard work, offering a lifestyle of simplicity. It’s a property for those who prioritize financial accessibility and pragmatic living over spaciousness.
Section 2: Frequently Asked Questions
1. Is this a small house for the area?
Yes. The living area is notably below the River Park South neighborhood average (1,410 sqft), placing it in the top 91% for being smaller. This indicates a more compact home compared to many in the immediate area.
2. How does its value compare?
Its $343k assessment is below the River Park South average ($447.2k) but very close to the Winnipeg citywide average ($390.1k). This suggests you are paying a premium for the neighborhood, but getting a property valued in line with the broader market.
3. What is the likely sold price?
Based on sold data from late 2023, it transacted in the CA$300k–350k range. For the exact historical sold price, you must request a manual lookup from the site via email.
4. Is the lot size a constraint?
The lot is smaller than most on the street and in the neighborhood. This limits expansive outdoor space but reduces maintenance. It’s a trade-off that contributes to the home’s affordability.
5. How does its age compare?
Built in 1985, it is typical for its street and neighborhood, but is actually newer than the average Winnipeg home (1966). This can be an advantage, potentially meaning fewer major component replacements than in much older city homes.