Property Overview: 103 Waterhouse Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 103 Waterhouse Bay in River West Park presents a solid, mid-century property built in 1978. With 1,324 sqft of living space, it is notably more compact than most homes on its own street but sits close to the average size for Winnipeg overall. Its true standout feature is the generous 7,596 sqft lot, which is well above the citywide average, offering significant outdoor space potential in a mature neighborhood.
The appeal here is one of balance and value within a well-established area. The assessed value of $507k is above the Winnipeg average, reflecting the desirability of the location, yet it remains competitive within its immediate neighborhood. The property’s history shows steady appreciation, with a sale in the $500k-$550k range in 2023, up from $400k-$450k in 2020.
This home would best suit practical buyers who prioritize land size and location over sheer interior square footage. It’s ideal for those looking to enter a stable neighborhood without a premium price tag, or for owners who see value in a larger lot for gardening, expansion, or future development. It may also appeal to value-conscious buyers who are comfortable with a home that is functional and well-situated but may require updates to match newer finishes.
Section 2: Frequently Asked Questions
1. How does the living area compare to nearby homes?
At 1,324 sqft, the home is smaller than most on Waterhouse Bay, where the average is 1,916 sqft. However, it is much closer to the neighborhood and citywide averages, making it a typically sized home for Winnipeg, just on a street with larger-than-average houses.
2. What does the assessed value tell us about this property?
The $507k assessment is above the Winnipeg average, indicating a strong citywide value. On its street and in River West Park, it sits around the average, suggesting it is priced appropriately for this specific location without an unusual premium or discount.
3. Is the lot size a significant feature?
Yes. The 7,596 sqft lot is a key asset, ranking in the top 13% citywide. This is considerably larger than the Winnipeg average of 6,570 sqft, offering more private outdoor space than many properties, which is a valuable and less replaceable feature than interior space.
4. What can past sale prices tell us?
The property sold for between $400k-$450k in 2020 and $500k-$550k in 2023. This indicates strong appreciation over a three-year period, reflecting broader market trends and the sustained demand for homes in this neighborhood.
5. How current is the home given its 1978 build date?
Built in 1978, the home is newer than most in Winnipeg but is typical for its street. For the broader River West Park neighborhood, it ranks in the top 7% by year built, meaning it is actually one of the newer homes in the area, which may suggest more modern construction standards than older neighbors.