Property Overview
59 Knotsberry Bay is a 752 sqft bungalow built in 1984, situated on a 4,468 sqft lot in Winnipeg's River Park South neighborhood. With an assessed value of $366k, it presents a specific value proposition within its market.
Key Characteristics & Appeal
This home’s primary characteristic is its compact size, which is notably below average for its immediate street and broader neighborhood. This defines both its limitations and its appeal. The appeal lies in its efficiency and affordability within a well-established area. It suits first-time buyers, downsizers, or investors seeking a lower entry point into a stable suburban community like River Park South. The home is one of the newer builds on its street, and its citywide assessed value is close to the Winnipeg average, suggesting the price reflects the smaller scale.
A less obvious perspective is that a home of this size, in a neighborhood of larger properties, could represent a land-value opportunity for the right buyer—the lot, while smaller than others on the street, still provides space. It may also appeal to those seeking a minimalist lifestyle without the maintenance burden of a larger house. The data indicates it last sold between $250k-$300k in 2016, highlighting significant appreciation.
Frequently Asked Questions
1. Is this a good value for the neighborhood?
The assessed value is below the neighborhood average, largely due to the smaller living area. You are paying less for a smaller home in a desirable area, which can be a strategic entry point.
2. Who would this property suit best?
It's ideal for first-time buyers, empty-nesters looking to downsize, or investors considering a rental property. Its size is less suited for growing families.
3. How does the lot size impact potential?
The lot is smaller than most on the street but is near the citywide average. It offers manageable outdoor space but may limit expansion possibilities compared to neighboring properties.
4. Why is the assessed value higher than the last sold price?
The home sold in 2016 for between $250,000 and $300,000. The current $366,000 assessment reflects market-wide appreciation over the past nine years.
5. How can I get the exact past sale price?
The website provides sold price ranges publicly. For the exact historical sale figure, you must request a manual lookup via email, as MLS data is not displayed on the site.