Property Overview: 62 Southwalk Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,567 sqft bungalow, built in 1979 on a 5,452 sqft lot, presents a solid, no-fuss family home in the established River Park South neighborhood. Its appeal lies in its practical size and its position as a value-conscious option within its immediate area. While its living space is above the Winnipeg average, its assessed value of $384k sits below the averages for both its street and neighborhood, suggesting a potentially more accessible entry point into this community. The home suits first-time buyers or downsizers looking for a manageable footprint without sacrificing yard space, and value-focused buyers who prioritize functional square footage over a newer build date. A thoughtful perspective is that this property represents the "established middle" of the Winnipeg market—it’s not the newest or most premium on its block, but it offers reliable space and a lot size that is becoming less common in newer developments, all while holding its own citywide.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
The home last sold between $300k-$350k in 2017. Its current assessed value is below the street's average, but for precise, verified sale prices of nearby properties, a manual lookup is required through the site.
2. Is the 1979 build date a concern?
The home is older than most on its street and in River Park South. This typically means maintenance and systems (like roof, windows, furnace) should be carefully evaluated, but it can also mean a larger lot and more established landscaping compared to newer infill properties.
3. What does "above average" living area for the city actually mean?
With 1,567 sqft, this home offers more interior space than about 73% of comparable homes across Winnipeg. This is its standout metric, indicating a spacious layout relative to the broader market.
4. The assessed value seems low for the neighborhood. Why?
Assessed value is for municipal taxation and is influenced by factors like age, condition, and recent renovations. Its below-average assessment for the area could reflect its older build date compared to neighbors, but it also highlights its potential as a comparatively affordable option in River Park South.
5. Can I see how this property compares visually to its neighbors?
Yes. A neighborhood analysis map is available to visually compare this home with nearby properties based on year built, living area, assessed value, and lot size.