Property Overview: 505 Bridgeland Drive N, Bridgwater Forest
Key Characteristics & Appeal
This is a spacious, well-maintained two-storey home in the popular Bridgwater Forest neighbourhood. Built in 2011, it sits on a generous 4,592 sqft lot and features a renovated basement and an attached garage. The home’s standout feature is its significant living space: at 2,224 sqft, it ranks within the top 5% of homes in Winnipeg for size, offering ample room for family life, entertaining, or dedicated work-from-home areas.
Its appeal lies in a combination of space, location, and established value. The property is situated in a modern, planned community known for its pathways and amenities. Market data shows it has consistently ranked highly for its assessed value and previous sale price within its immediate area and across the city, suggesting a history of solid value retention. The renovated basement adds immediate functional living space without the need for a major project.
This home would best suit a growing family or professional couple seeking a move-in ready property with abundant interior space in a contemporary neighbourhood. It’s also a strong candidate for a value-conscious buyer who appreciates quantifiable metrics—the home performs very well in statistical rankings for size and value, indicating a property that stands out in its peer group.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
At 4,592 sqft, the lot is larger than 57% of properties on the same street, offering above-average outdoor space for the immediate area.
2. The home was built in 2011. What should I consider about its age?
Being 15 years old, major components like the roof, HVAC, and appliances may be approaching or have recently reached a typical service life. A thorough inspection is advised, but the home is newer than 88% of properties in Winnipeg, meaning it likely has more modern construction standards and efficiency than much of the city's housing stock.
3. The assessed value seems low compared to the last sale price. Why?
The municipal assessed value ($61.30k) is for taxation purposes and is typically much lower than market value. The last recorded sale was $670k in May 2022, which is a more relevant indicator of its market price.
4. What do the ranking percentages (e.g., "Top 5%") actually mean?
These rankings compare this specific property against all others in the stated geographic area (street, neighbourhood, or city) for that particular metric (like living area or sale price). For example, ranking in the "Top 5% in Winnipeg" for living area means only 5% of Winnipeg homes have more square footage, highlighting its relative spaciousness.
5. The basement is noted as renovated. Are permits available?
This is a critical question for any renovation. Prospective buyers should ask the seller for documentation confirming that the basement renovation was completed with the necessary permits and inspections to ensure the work is compliant and insured.