55 Bridge Lake Drive

Property Overview

This one-storey home in Bridgwater Lakes presents a compelling blend of space, recent investment, and established value. Built in 2012, it sits on a large, 6,340 sqft lot that ranks in the top quarter for size on its street. The living area of 2,114 sqft is notably spacious, placing it in the top 7% of Winnipeg. Key features include an attached garage and a renovated basement. The home recently sold for $1,060,000, a figure that significantly exceeds its assessed value and ranks in the top 1% of Winnipeg sale prices, indicating strong market confidence and premium positioning within its category.

Key Characteristics & Appeal

The primary appeal of this property lies in its generous proportions and move-in-ready condition. The renovated basement adds immediate functional living space without the need for future projects. Its standout characteristic is the exceptional lot size for the neighbourhood, offering ample outdoor privacy and potential. The sale price, vastly higher than both the assessed value and nearby comparable homes, suggests a property that has been significantly upgraded or possesses intangible qualities highly valued by the market.

This home would suit buyers looking for single-level living in a modern community, who prioritize interior space and a large yard. It’s particularly suited for those who value a home that has already undergone major renovations, as evidenced by the basement and the premium sale price. The numbers indicate it’s a property for buyers not constrained by typical assessments, who are competing for above-average, turn-key homes in desirable areas.

Frequently Asked Questions

Q: The sale price is much higher than the assessed value. Why is that?
A: Assessed values are for municipal tax purposes and often lag behind market trends, especially for renovated properties. The sale price reflects what a buyer was willing to pay in the current market, likely factoring in the renovated basement, lot size, and the home's overall condition and appeal.

Q: How does the age of this home (built 2012) compare to the neighbourhood?
A: At 14 years old, this home is actually among the older 10% of homes on its street, as Bridgwater Lakes is a relatively new community. This isn't necessarily a drawback; it means the property is established, and any initial new-build issues have likely been resolved, while still being a modern home.

Q: What does the large lot size mean for me?
A: With a lot size better than 78% of others on the street, you have more privacy, space for gardening, play, or entertaining, and potentially more flexibility for future additions like a deck or shed, compared to newer homes on smaller, standard lots.

Q: The home sold recently. What can that price tell me?
A: A very recent sale provides an excellent, concrete benchmark for the current market value in this area. The fact it sold in the top 1% of Winnipeg prices confirms it is a premium property, but it also sets a high comparable for future values on the street.

Q: Is the renovated basement included in the living area square footage?
A: Typically, municipal living area (2,114 sqft) refers to above-grade, finished space. The renovated basement would be additional square footage, adding significant functional space to the property that is a key feature but not reflected in that official number.