5 Gatineau Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,040 sqft home built in 1962 on a 5,460 sqft lot, currently assessed at $335,000. It sits in the Windsor Park neighborhood of Winnipeg.
The property’s main appeal is its relative affordability compared to both street and neighborhood averages. It ranks in the bottom third for assessed value on its street and within Windsor Park, meaning it’s priced below many nearby homes. The living area is slightly above average for its street but below the citywide average, making it a modestly sized, entry-level option. The land area is average for the street but below neighborhood and city norms.
This home would suit buyers who want to get into a stable, older neighborhood without paying a premium for size or a newer build. It may also appeal to someone looking for a property with below-market assessment—sometimes a sign of renovation potential or a slower-moving price history. It’s less suited to buyers seeking a large lot or a home that ranks well in value compared to its immediate neighbours.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
The assessed value of $335,000 is below the street average of $351,000 and the neighborhood average of $354,200. It ranks 27th out of 38 homes on its street, meaning about 71% of nearby homes are valued higher. Citywide, it sits around the middle (top 59%).
2. Is the living area considered small for the area?
At 1,040 sqft, it’s slightly smaller than the street average (1,095 sqft) but within a typical range. The neighborhood average is 1,091 sqft, so it’s not unusually small locally. However, the citywide average for comparable homes is 1,342 sqft, so it’s below that benchmark.
3. How old is the house, and is that typical for Windsor Park?
Built in 1962, it’s a year newer than the street average but a year older than the neighborhood average. In Windsor Park, homes from the early 1960s are common—this one ranks in the top 26% for newer homes locally, meaning many nearby houses are actually older.
4. What is the lot size, and how does it compare?
The lot is 5,460 sqft, which is about 500 sqft smaller than the street average and nearly 600 sqft smaller than the neighborhood average. It’s in the middle of the pack on its own street but on the smaller side for Windsor Park overall (top 78%).
5. Could this be a good property for renovations or additions?
Possibly. The below-average assessed value and modest living area suggest there may be room to add value, especially if the interior is dated. The lot is average-sized for the street, so an addition or basement development might be feasible, but check local zoning. Buyers should also consider that the older year built may mean updated mechanicals are needed.