Property Overview: 81 Swan Lake Bay
Section 1: Key Characteristics & Appeal
This 960 sqft bungalow, built in 1978 on a 5,021 sqft lot, presents a practical and affordable entry point into the established Waverley Heights neighborhood. Its primary appeal lies in value and positioning. While the living space is modest compared to area averages, the property’s assessed value of $368K is notably below the street average and competitive within the wider city. This creates a value proposition for buyers seeking a lower-cost foothold in a desirable area without the premium often attached to larger homes on the same street.
The home would suit first-time buyers, downsizers, or investors looking for a manageable property with solid fundamentals. Its newer build year relative to many city homes suggests potentially fewer immediate major updates. The lot, while smaller than others on Swan Lake Bay, is close to the neighborhood average, offering adequate outdoor space without extensive maintenance. This is a property for those who prioritize location and financial efficiency over sheer size, viewing the compact layout as an opportunity for creative use or a simpler lifestyle.
Section 2: Frequently Asked Questions
Q: How does the smaller living area impact value?
A: The below-average square footage is a key factor in the home’s below-average assessed value for the street. This can be an advantage for buyers, as it often translates to lower property taxes and a more accessible purchase price for the location.
Q: Is the lot size a significant drawback?
A: While the lot is smaller than most on its specific street, it is actually around the average for the broader Waverley Heights neighborhood. It provides standard yard space without the upkeep of a larger lot, which can be a benefit for many.
Q: What does the "newer" build year mean for me?
A: Built in 1978, the home is newer than the Winnipeg city average and significantly newer than many in its immediate neighborhood. This can suggest updated building standards for its time and potentially less concern with some aging infrastructure issues found in older stock.
Q: Who determines these rankings and averages?
A: The rankings are a statistical comparison against "comparable homes" in defined areas (street, neighborhood, city), using public assessment data. The "Avg" figure is a rough median benchmark, showing how this property measures up to its peers.
Q: If the home is smaller and on a smaller lot, why is it a good opportunity?
A: It offers a chance to live in a sought-after area at a price point often reserved for less established neighborhoods. For buyers not needing maximum space, it represents an efficient use of budget to secure the location, with the potential to add value through thoughtful updates to the existing footprint.