Property Overview
10 Councillor Bay is a well-situated bi-level home in The Maples, built in 1976. Its key appeal lies in its balance of a generous, above-average lot size with a compact and efficient living footprint. The home features a renovated basement and a detached garage. While the living area is modest at 829 sq ft, the property stands out for its land size, ranking in the top 16% on its street. It last sold in September 2022 for $320,000, a price that significantly exceeds its current assessed value, indicating strong market demand for homes in this location and configuration. This property would best suit first-time buyers, downsizers, or investors seeking a manageable home with outdoor space and renovation value already added to the basement, without the upkeep of a larger house.
Frequently Asked Questions
1. How does the sold price from 2022 relate to today's value?
The 2022 sale price of $320,000 is a concrete data point showing what a buyer recently paid, but it does not guarantee today's value. Market conditions, interest rates, and the property's current state will determine its present market price.
2. The living area seems small compared to other listings. What's the trade-off?
The living space is compact, ranking in the top 3% largest on its street, which actually indicates most homes on Councillor Bay are of a similar or smaller size. The trade-off is a larger-than-average lot (4,498 sq ft), offering valuable outdoor space and potential that many newer properties lack.
3. What does the "renovated basement" likely include?
While specifics require a viewing, a renovated basement in a bi-level typically means the lower level has been finished into livable space, potentially adding bedrooms, a family room, or a secondary suite. This effectively doubles the usable space beyond the 829 sq ft main floor.
4. The assessed value is much lower than the last sale price. Why?
Municipal assessed value for taxes is not intended to reflect market value. It's an administrative figure that often lags behind rapid market changes. The 2022 sale price is a far stronger indicator of what the market was willing to pay.
5. Who would this neighbourhood, The Maples, appeal to?
The Maples is a mature, established neighbourhood in northwest Winnipeg. It typically appeals to those seeking community amenities, affordability relative to newer suburbs, and practical access to major routes. It's a pragmatic choice for value-focused buyers.