4 Monaco Bay

Summary of 4 Monaco Bay

This property offers a clear trade-off: a compact, older home on a smaller lot, but with a significantly higher assessed value than most of its neighbours. That gap between size and value is the main thing to understand here.

Key Characteristics and Buyer Profile

The home sits on a 5,461 sqft lot with 927 sqft of living space, built in 1961. Both the living area and land area rank below average on the street, in the neighbourhood, and citywide—meaning this is a smaller-than-typical home for its area. The year built is essentially average for the street and neighbourhood.

The standout feature is the assessed value. At $387,000, it ranks in the top 17% on Monaco Bay and top 15% in Windsor Park. That’s notably higher than the median on the street (around $362,700) and well above the neighbourhood average ($354,200). This suggests the home may have had meaningful updates, better interior finishes, or other value-adds that aren’t immediately visible in square footage or land size.

The appeal here isn’t about space or a big yard—it’s about getting a home that’s been improved in ways that show up in its value, on a quiet street in a stable neighbourhood. This property would suit buyers who prioritize condition and quality over floor area, or who want a more affordable entry point into a higher-value block without compromising on location. It’s less suited to families needing room to grow or buyers wanting a large lot for expansion.

Frequently Asked Questions

1. Why is the assessed value so much higher than the street average if the home is smaller?
Assessed value reflects market conditions, recent sales, and property improvements—not just square footage. A smaller home that’s been renovated, has updated mechanicals, or sits on a premium part of the street can easily be worth more than larger, unrenovated neighbours. The data suggests this home has had some kind of value-add.

2. Does “below average” living area mean the home feels cramped?
Not necessarily. 927 sqft is workable for a couple or a small family, especially if the layout is efficient. It’s the floor plan and how the space is used that matter more than the raw number. That said, it’s undeniably smaller than most homes in the area, so buyers expecting spacious rooms should check the layout in person.

3. How does the lot size affect usability?
A 5,461 sqft lot is below average locally, but still a standard city lot size for Winnipeg. It’s not a postage stamp—it’s just not the generous corner lot or deep backyard that some neighbours have. If you want a large garden or room for a future addition, this lot may be limiting. If you prefer lower maintenance, it could be a plus.

4. What does the “average year built” tell me about repairs needed?
A 1961 build is roughly average for the area. That means many homes around here are similar vintage, so there’s no special risk beyond what you’d expect for a 60-year-old house. The key is whether the previous owner updated major systems—roof, windows, HVAC, plumbing. The assessed value suggests something has been done, but an inspection is the only way to confirm.

5. How does this property compare to others in Windsor Park overall?
In Windsor Park, this home ranks in the top 15% for value but the bottom 22% for lot size and bottom 14% for living area. So it’s an outlier: one of the more expensive homes in the neighbourhood relative to its physical footprint. That’s unusual, and it means you’re paying a premium for something other than space—likely condition, location within the neighbourhood, or recent updates.