Property Summary: 41 Agate Bay
Key Characteristics & Buyer Profile
This is a 1956 bungalow with 880 square feet of living space on a 5,494-square-foot lot, located in the Windsor Park neighbourhood of Winnipeg. Its assessed value is $296,000.
The property stands out most for its build year. On its street, it’s the oldest home built (top 3%), and it predates both the neighbourhood and city averages by about five to ten years. For a buyer interested in a well-established, older home—potentially with original character or renovation potential—this is a defining feature. The lot is average for the street but smaller than the neighbourhood norm, which is worth noting if you value yard space or plan an addition.
The appeal here is value-driven. The assessed value is notably below average at every level—street, neighbourhood, and city. This suggests the property may be priced to reflect its smaller living area and lot size. It would likely suit a first-time buyer looking to enter the market at a lower price point, or a buyer willing to invest in updates to build equity over time. It’s not a turnkey home for someone seeking modern square footage or a large lot.
Five Possible FAQs
1. How does the living space compare to other homes nearby?
The 880 sqft is right around the average for the street, but it’s below the Windsor Park neighbourhood average of 1,091 sqft. If you’re used to newer suburban homes, this will feel compact. For the street itself, it’s typical.
2. What’s the significance of the 1956 build year?
On this street, it’s the oldest house. In the broader neighbourhood, most homes were built in the early 1960s. An older home can mean solid construction (often with old-growth lumber), but it may also come with older systems (plumbing, electrical, insulation) that need attention. It’s worth budgeting for a thorough inspection.
3. Is the lot big enough for a garage or an extension?
At 5,494 sqft, it’s a standard city lot. It’s slightly smaller than the neighbourhood average of 6,030 sqft. Whether you can add a garage or expand depends on zoning and setbacks. You’d want to check with the city, but it’s not an oversized property—so any major addition would require careful planning.
4. Why is the assessed value so much lower than the city average?
The low assessed value reflects the smaller living area and lot, plus the fact that it’s compared against much newer and larger homes citywide. The street average is $333k, so this home is in the lower tier of its immediate area. That gap is typical for older, smaller homes in established neighbourhoods.
5. What’s the neighbourhood like for resale value?
Windsor Park is an older, established area with a mix of bungalows and post-war homes. Homes here tend to be below the city average in size and value. Resale will likely depend on condition and updates. A well-maintained home in this area won't appreciate as fast as a hot new suburb, but it also tends to hold value steadily. If you improve the property, you may see a better return than in a market where prices are already inflated.