56 Ericsson Bay – Property Summary
Key Characteristics & Buyer Profile
This 1962-built home offers 1,476 square feet of living space on a 6,282-square-foot lot, with an assessed value of $410,000. On its own street, the property ranks in the top 20% for value and top 22% for living area—both above the street average. The lot is slightly smaller than the street average (ranking 32nd out of 41), but compares more favorably citywide, where it sits in the top 26% for land area.
The home’s appeal lies in its combination of size and value relative to immediate neighbours. It’s a solid, mid-century property that isn’t the newest on the block but holds its own in terms of space and assessed worth. Buyers who prioritize interior square footage and don’t mind a smaller-than-average yard will find this a strong fit. It’s also well-suited for someone who wants a home that’s slightly above the street norm for value—potentially a sign of good bones or updates—without being the priciest or largest. The year built (1962) is typical for the street but older than the broader neighbourhood average, so it may appeal to buyers who appreciate character, mature landscaping, or established neighborhoods over newer construction.
Frequently Asked Questions
1. How does this home’s lot size compare to others nearby?
On this street, the lot is smaller than average—ranked 32nd out of 41. But compared to the rest of Winnipeg, it’s in the top 26%, meaning the lot is still generous by citywide standards.
2. Is the assessed value accurate or likely to change?
The assessed value of $410,000 is above the street average ($373,200) and neighbourhood average ($392,100). Assessments are based on market conditions at a set point in time. If the home has been recently updated or the market has shifted, the actual sale price may differ.
3. What does “ranked #6 out of 41 for year built” mean?
It means only five homes on this street are newer. The property was built in 1962, which is actually the same as the street average—so the ranking reflects that most homes are from that era or older, and this one is among the newer ones on the street.
4. How does the living space feel for a family or someone working from home?
At 1,476 square feet, it’s larger than the street, neighbourhood, and city averages. That extra space could comfortably accommodate a home office, a dedicated playroom, or an additional bedroom without feeling cramped. The layout and flow would depend on the floor plan, but the square footage is competitive.
5. Would this property be a good investment?
It ranks well for assessed value relative to the street and neighbourhood, which may indicate strong underlying demand. The land area, while smaller on the street, is above average citywide—so the lot itself holds decent value. That said, the home is over 60 years old; potential buyers should factor in maintenance costs and any deferred updates. The neighbourhood analysis page (linked above) offers side-by-side comparisons with nearby homes to help gauge long-term trends.