Property Summary: 74 Blue Lake Bay, Winnipeg
Section 1: Overview & Appeal
This well-situated home on Blue Lake Bay presents a compelling mix of space, value, and location. Its key characteristic is a living area (1,156 sqft) that is notably above average for its immediate street, offering more interior space than most of its direct neighbors. Built in 1978, it is also newer than many comparable homes in the Waverley Heights area.
The primary appeal lies in its value proposition. The assessed value is significantly below averages for both the street and the wider neighborhood, suggesting a potentially attractive entry point into a desirable area. This creates an opportunity for buyers who prioritize location and interior space over a large lot, as the property sits on a smaller, more manageable parcel of land.
This property would ideally suit first-time buyers or downsizers seeking a comfortable home in an established neighborhood without a premium price tag. It’s also a sensible choice for value-conscious investors or those who prefer less yard maintenance. A less obvious perspective is that its above-average size for the street, combined with a below-average assessment, could indicate room for value growth through updates, making it interesting for buyers with a medium-term vision.
Section 2: Frequently Asked Questions
1. Is the living space actually a good size for the area?
Yes. The home ranks in the top 9% on its street for living area, meaning it offers more interior space than most comparable homes right around it. It is competitively sized within the broader neighborhood as well.
2. Why is the assessed value below average?
The assessed value is below the average for the street, neighborhood, and city. This is likely influenced by the home’s smaller lot size and its specific market positioning. It’s important to note that assessment is for tax purposes; a professional appraisal and market evaluation would determine its current market value.
3. What does the smaller land area mean for me?
The lot is compact, especially compared to the neighborhood and city averages. This means lower maintenance for gardening and yard work, but also less private outdoor space. It’s a trade-off that aligns with a simpler lifestyle or a focus on the home’s interior.
4. How does the year built affect this home?
Built in 1978, the home is newer than most in its immediate vicinity and the Waverley Heights area. This can be an advantage, potentially meaning updates to building materials and systems. However, as with any home of this age, the condition of major components like the roof, windows, and mechanical systems should be verified.
5. Is this a good street within the neighborhood?
The data suggests Blue Lake Bay is a street of consistent, modestly-sized homes. The fact that this property ranks highly for living area and year built on its own street indicates it is one of the larger and newer homes on that specific block, which is a positive relative positioning.