151 Quincy Bay

Property Overview

This 841 sqft bungalow at 151 Quincy Bay, built in 1976, presents a specific value proposition within Winnipeg's Waverley Heights neighborhood. Its key characteristic is a noticeable contrast: the home itself is compact, with a living area significantly below averages for its street, neighborhood, and city. However, it sits on a 6,216 sqft lot that is above the citywide average, offering generous outdoor space uncommon for many city properties.

The appeal lies in this very balance. It is a competitively priced entry point into a well-established neighborhood, with an assessed value ($378k) that sits around the city and neighborhood averages. The large lot is a standout feature, providing ample room for gardening, expansion, or simply private outdoor enjoyment—a rarity for the price. This property would suit first-time buyers, downsizers seeking minimal interior upkeep but wanting garden space, or investors looking for a land-value play with a rentable existing structure. It’s for the practical buyer who sees potential in the land and location, not in the current home’s square footage.

Frequently Asked Questions

Q: The living area seems small. How does the layout work?
A: At 841 sqft, efficient use of space is key. Buyers should pay close attention to the floor plan to ensure it meets their needs, as the home's size is well below the local average. The value here is oriented more toward the land.

Q: What does the lot size actually mean for me?
A: The 6,216 sqft lot is larger than most in Winnipeg. This translates to significant backyard space, potential for additions (subject to permits), and more distance from neighbors compared to newer, denser subdivisions.

Q: The home was built in 1976. What should I be aware of?
A: While the building age is typical for the area, a thorough inspection is essential. Focus on the condition of major systems like roofing, plumbing, electrical, and the foundation, which may be nearing or past their typical lifespans.

Q: The assessed value is below the street average but near the city average. Is that good?
A: It suggests the property is priced for its current state, not for its address alone. You are effectively paying less than the street's typical homeowner for the same location, but the lower assessment reflects the smaller home. This can be an advantage for property taxes.

Q: Is this a good investment?
A: Its investment potential is likely tied to the land. The existing home provides rental income potential, but long-term value may depend on the possibility of future renovation or redevelopment, making it a more strategic, long-hold investment rather than a quick flip.