Property Overview: 23 Burbank Point, Bridgwater Forest
Key Characteristics & Appeal
This two-storey home in the popular Bridgwater Forest neighbourhood presents a compelling blend of space, established value, and modern updates. Its key appeal lies in its substantial 12,294 sqft lot, which is larger than 96% of properties in the neighbourhood, offering significant outdoor potential. The 2,225 sqft living area is also well above Winnipeg averages. A recently renovated basement adds functional, modernized space. Built in 2010, the home is past its initial settling period but is still modern, with major systems likely in good condition.
The data reveals a strong and stable investment profile. The current assessed value ranks in the top tier for the city, and the 2021 sale price sits well above both the 2017 purchase price and the assessment, indicating a history of value growth. This home would suit buyers looking for a move-in ready property in a master-planned community who prioritize a large yard over a brand-new build. It’s particularly suited for a growing family seeking space to expand, or for a value-conscious buyer who appreciates the finished basement and doesn’t want to undertake major renovations.
Frequently Asked Questions
1. What does the "rank" data actually tell me about this property?
The percentile rankings show how this home compares to others in its immediate street, neighbourhood, and city. For example, being "better than 97% in Winnipeg" for land area means the lot is exceptionally large for the city, a key differentiator.
2. The 2021 sale price is much higher than the current assessed value. Why is that?
Assessed value for tax purposes often lags behind market value, especially in a rising market. The 2021 sale is a concrete market transaction, while the assessment is an administrative valuation. This gap can be common and suggests consulting recent comparable sales for the most accurate current market value.
3. The home is newer than 87% of Winnipeg, but only newer than 29% of its neighbourhood. What does this mean?
Bridgwater Forest is a relatively new community. So while the home is modern compared to most of Winnipeg, it is actually one of the older homes within its own subdivision, which is filled with similar-aged properties. This indicates a settled streetscape with mature landscaping.
4. How should I interpret the 2017 vs. 2021 sale prices?
The jump from $565,000 in 2017 to $640,000 in 2021 demonstrates significant equity growth for the previous owner over four years. This historical trend is a positive indicator of the property's and area's market performance.
5. What are the implications of having a renovated basement?
A renovated basement adds immediate liveable square footage, which is reflected in the home's above-average living area rank. It means potential for a rec room, home office, or guest space without the need for a major project, a key advantage over homes with unfinished basements.