Property Overview: 515 Sharron Bay, Winnipeg
Key Characteristics & Buyer Appeal
This home in Rossmere-A presents a compelling case based on its standout lot and strong valuation within its immediate area. The primary appeal lies in its exceptionally large, 8,226 sqft lot, which ranks in the top 2% on its street and top 5% in the neighborhood. This offers significant outdoor space and potential not typical for the area. While the living area (1,036 sqft) is modest and slightly below the street average, the property carries an assessed value of $401k, the highest on its street. This suggests perceived value may be driven by the land, specific updates, or its condition. The home was built in 1959, consistent with the area's vintage.
It would suit buyers who prioritize a larger yard for gardening, recreation, or future expansion over a large interior footprint. It's also a fit for those interested in a home that appears to be a high-performer on its block from an assessment perspective, potentially indicating good upkeep or desirable features not captured in square footage.
Frequently Asked Questions
1. Why is the assessed value so high relative to the home's size?
The assessed value is the highest among 50 comparable homes on the street. This often reflects factors like the premium lot size, significant renovations, superior condition, or desirable location features that aren't solely about square footage.
2. How does the lot size compare to typical Winnipeg homes?
The lot is substantially larger than average, ranking in the top 10% citywide. It's over 2,000 sqft larger than the average lot on its own street, offering a notable amount of private outdoor space.
3. What do the past sale prices indicate?
The home sold in July 2022 for an estimated $500k-$550k, which placed it in the top 1% of the neighborhood for sale price at that time. A previous sale in early 2020 was in the $300k-$350k range, showing significant appreciation in that period.
4. Is the living area a drawback?
At 1,036 sqft, the living area is below the street average. This means the home likely has a more compact or efficient layout. Buyers should consider if the space meets their needs, balanced against the benefit of the larger property lot.
5. What are comparable homes in the area like?
Nearby homes of similar vintage typically have living areas between 990 and 1,150 sqft and assessed values mostly in the $320k-$360k range. This highlights that 515 Sharron Bay's assessment is an outlier, likely due to the specific factors mentioned above.