Property Overview: 516 Bridgeland Drive N, Bridgwater Forest
Section 1: Key Characteristics & Appeal
This two-storey home, built in 2011, sits on a generous 4,629 sqft lot in the popular Bridgwater Forest neighbourhood. Its primary appeal lies in a combination of above-average space and recent updates. With a renovated basement and over 2,100 sqft of living area, it ranks in the top third of the neighbourhood for size, offering more room than many newer builds. The attached garage and sizable lot add to its practical family footprint.
The home’s value proposition is underscored by its performance metrics. It ranks in the top 10% of its street for both assessed value and a strong prior sale price, suggesting it has been a solid investment relative to its immediate peers. While the lot size is more typical for the area, the interior space is a standout feature. This property would suit growing families or professionals seeking a modern, low-maintenance home in a master-planned community, particularly those who prioritize interior square footage and a finished basement over a premium lot size. A thoughtful perspective for buyers is to note that while the home is newer than 88% of Winnipeg, it is now 15 years old; the renovated basement is a significant plus, but the main systems (like roof, HVAC) may be nearing mid-life, so a thorough inspection is wise.
Section 2: Frequently Asked Questions
1. How does this home compare to others on the street?
It consistently ranks well above average for its street in key categories: living space (top 7%), assessed value (top 10%), and recent sale price (top 6%). This indicates it is a larger and historically higher-value home within Bridgeland Drive itself.
2. What is the neighbourhood ranking for this property?
Rankings vary by metric. It’s in the top third for living area (top 32%) and assessed value (top 41%), but the lot size is more average (top 71%). This profile suggests a home that offers more interior space than many in Bridgwater Forest, on a standard lot.
3. Has the property appreciated in value?
Based on available sales data, the home sold for $580k in May 2021 and then $692k in May 2022. This indicates a period of significant appreciation during that time. The current assessed value is notably lower, but assessments for tax purposes often lag behind market sale prices.
4. Is the basement development legal and permitted?
The listing notes the basement is "renovated." Prospective buyers must verify with the seller or city records that any renovations were completed with the proper permits to ensure the work is compliant and insurable.
5. What are the property taxes likely to be?
The current assessed value for tax purposes is $602,000. Buyers should use this figure, along with the City of Winnipeg's current mill rate, to estimate annual property taxes, as the actual tax bill will be based on this assessment.