Property Overview: 7 Blackwater Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,088 sqft bungalow, built in 1981, presents a solid, no-surprises option in the established River Park South neighborhood. Its primary appeal lies in its strong value proposition and desirable location on a quiet bay. The home sits on a 4,200 sqft lot, which is modest for the area but typical for its street.
The data reveals a property that stands out on its own street. It has an above-average assessed value for Blackwater Bay, ranking in the top 7%, and is one of the newer homes on the block. However, when viewed in the wider neighborhood or city context, it aligns more closely with average benchmarks for size and value. This suggests you’re buying into a well-regarded, stable micro-location where this home is a competitive offering.
It would best suit practical, value-conscious buyers—perhaps first-time homeowners, downsizers, or investors—who prioritize location and lot over sheer square footage. It’s for someone who sees the appeal of a mature neighborhood with larger, newer homes nearby, understanding that this property offers a more accessible entry point into that setting without the premium price tag of a larger, fully renovated home.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others nearby?
At 1,088 sqft, the living area is slightly below the neighborhood average but is very close to the typical size found on Blackwater Bay itself. This indicates a cozy but standard layout for this specific street.
2. Is the assessed value of $419k reasonable for the area?
The assessment is above the street average, suggesting the property is viewed favorably relative to its immediate neighbors. It sits around the average for both the wider neighborhood and the city, indicating a fair, market-aligned valuation.
3. What does the year built tell us about the property?
Built in 1981, it is one of the newer homes on its street. While some homes in River Park South are newer, this age typically means construction methods and major systems (like wiring) may be more modern than those found in much older Winnipeg homes.
4. How does the lot size impact the property?
The 4,200 sqft lot is smaller than many in Winnipeg and the neighborhood. This means lower maintenance, but also less private outdoor space compared to some area homes. It is, however, consistent with the lot sizes found on this part of Blackwater Bay.
5. What can the past sale price tell me?
The home sold between $400k-$450k in late 2021. This past sale price range placed it in the top 17-30% for its area at that time, reflecting strong buyer interest and the property’s perceived value in its immediate locale.