Property Overview: 3 Millbank Avenue, Bridgwater Forest
Section 1: Key Characteristics & Appeal
This well-maintained cabover home in the popular Bridgwater Forest neighbourhood offers a practical and modern living space. Its key features include a renovated basement, an attached garage, and a generous 4,415 sqft lot, which is notably larger than many in the immediate area. Built in 2008, the home is relatively modern, requiring less immediate attention than older properties.
The appeal lies in its balance of space, updates, and location. The renovated basement adds valuable finished living area, while the large lot provides room for outdoor activities or gardening—a perk in a newer community. The home’s assessed value ranks highly city-wide, suggesting it is viewed as a solid asset. It would suit first-time buyers or young families looking for a move-in-ready home in a planned community, as well as value-conscious buyers who appreciate the upside of a larger lot and recent renovations in a newer suburb.
A less obvious perspective is its positioning within the street and neighbourhood. While the home ranks highly for its lot size and assessed value compared to all of Winnipeg, it sits among newer, often larger homes in Bridgwater Forest itself. This means the immediate area offers a high standard of comparables, which can be beneficial for long-term value but also indicates a competitive local market.
Section 2: Frequently Asked Questions
1. How does the living area compare to nearby homes?
At 1,666 sqft, the living area is below average for the immediate street but is fairly typical for the wider Bridgwater Forest neighbourhood and ranks above average for Winnipeg overall.
2. What does the "rank" information mean?
The rankings compare this property against others on the same street, in Bridgwater Forest, and across Winnipeg. For example, being in the "Top 9%" for assessed value in Winnipeg indicates a strong valuation relative to the entire city.
3. The last sale was in 2016. Is that a concern?
Not necessarily. A long ownership period can indicate a well-cared-for home and a stable neighbourhood. The significant increase from its 2016 sale price to the current assessed value also reflects market appreciation.
4. Is the lot size a significant advantage?
Yes. At over 4,400 sqft, the lot is larger than 80% of those on the same street. This provides more private outdoor space than many neighbouring properties, which is a key differentiator.
5. How does the assessed value relate to the likely selling price?
The assessed value ($571,000) is for municipal tax purposes and is a historical snapshot. It is a useful benchmark that shows the home is valued highly by the city assessor, but the final sale price will be determined by current market conditions.