56 Monaco Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,083-square-foot home built in 1961 on a 5,822-square-foot lot in Windsor Park, Winnipeg. Its assessed value is $377,000.
The property’s main strength is its value relative to its immediate street and neighbourhood. On Monaco Bay, it ranks in the top 23% for assessed value and top 27% for living area—meaning it’s one of the more substantial homes on the block. At the neighbourhood level, value remains strong (top 24%), though the living area drops to around average. Citywide, the home sits near the middle of the pack in both size and value.
The lot is slightly smaller than the neighbourhood average (5,822 sqft vs. 6,030 sqft), but still above the citywide median for comparable homes. The home itself was built in 1961, which is typical for Windsor Park—neither notably old nor new for the area.
Where the appeal lies: This is a solid entry-level or mid-range family home in an established neighbourhood. It offers above-average value on its street, meaning you’re getting more house for the money compared to nearby properties. The lot is manageable, and the home’s age suggests it may have original features that could be updated over time, rather than requiring a full gut renovation.
Who it suits: First-time buyers looking for a reasonably priced home in a mature neighbourhood with good bones. Also suitable for investors or downsizers who want a property that’s not the smallest or most dated on its street, but also not the most expensive. It’s less ideal for someone wanting a newer home, a large lot, or a property that stands out size-wise at the city level.
Five Possible FAQs
1. How does this home compare to others on Monaco Bay specifically?
It’s above average. It ranks #11 out of 48 homes for assessed value (top 23%) and #13 out of 48 for living area (top 27%). That means it’s one of the more valuable and spacious homes on the street.
2. Is the lot size small for the area?
Slightly. The lot is 5,822 sqft, while the neighbourhood average is 6,030 sqft. It ranks #31 out of 48 on the street (top 65%), so it’s toward the lower end locally, but still above the citywide median for comparable homes.
3. How old is the home and is that a concern?
It was built in 1961, which is typical for Windsor Park. The neighbourhood average build year is 1961, so it’s exactly in line with its surroundings. Citywide, the average is 1966, so it’s a few years older than the city norm. Nothing unusual for the area.
4. What does the assessed value really tell me?
It’s assessed at $377,000—above the street average ($362,700) and neighbourhood average ($354,200), but slightly below the citywide average for comparable homes ($390,100). This suggests the home carries a premium locally but is priced realistically for the broader market.
5. Would this property be a good investment?
Potentially, if you’re buying into an established street where it already ranks well. Homes that are above average on their street tend to hold value better in slower markets. However, the lot size and home age limit major upside unless you renovate or expand. It’s more of a stable, no-surprises buy than a high-growth play.