Property Overview: 4 Lerwick Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 4 Lerwick Bay in the Rossmere-A neighborhood presents a compelling mix of space, value, and location. Built in 1959, it is a classic mid-century property with a living area of 1,276 sqft, which is notably above average for the immediate community. Its true standout feature is the generous 8,042 sqft lot, placing it in the top 6% of Rossmere-A for land size, offering significant outdoor space and potential.
The appeal lies in its strong positional value. While the home itself is slightly smaller than others on its street, it holds a high property assessment value ($415,000), ranking in the top 5% within Rossmere-A. This suggests the lot and location are highly regarded. The home suits buyers looking for a established neighborhood character with room to grow, garden, or expand. It’s ideal for those who prioritize land size over a brand-new build and see value in a property whose assessed worth is strong relative to its community. A thoughtful perspective is that this property may represent a "land play" in a desirable area, where the underlying asset (the lot) drives its value as much as or more than the current structure.
Section 2: Frequently Asked Questions
1. How does the 1959 build year affect this property?
As the oldest home on its block, it may require more diligent inspection for aging components like plumbing, electrical, or the roof. However, homes from this era are often solidly built and can offer good renovation potential.
2. The living space is smaller than the street average but larger than the community average. What does this mean?
This indicates you're getting a home that is spacier than most in Rossmere-A, but on a street where houses tend to be larger. It positions the property as a comfortable, mid-sized option in a well-established area.
3. Why is the tax assessment value so high compared to the community?
A tax assessment significantly above the community average typically reflects factors like the desirable lot size, specific location, and market conditions at the time of assessment. It’s a strong indicator of the property's official valuation but should be compared with recent actual sale prices.
4. What can the 2017 sale price range tell me?
The previous sale in the $350,000-$400,000 range provides a historical benchmark. Comparing it to the current $415,000 assessment helps gauge market appreciation, but a current market evaluation is essential to understand its present value.
5. How useful are the comparable listings provided?
The nearby and similarly assessed listings offer context for the local market. They are a starting point for comparison, but key differences in lot size, condition, updates, and exact location will ultimately determine how directly comparable they are.