Property Overview: 56 William Gibson Bay, Canterbury Park, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Canterbury Park is defined by its substantial lot and modern foundation. Built in 2004, it sits on an exceptionally large 8,593 sqft property, ranking in the top 2% for lot size on its street. The home itself offers 1,718 sqft of living space, which is comfortably above average for the area, and includes a renovated basement and an attached garage.
The primary appeal lies in its land value and position within a well-established neighbourhood. The lot size offers rare potential for expansion, gardening, or private outdoor space that is increasingly uncommon in newer subdivisions. While the living area is generous, the standout feature is the property's overall equity and stability, as reflected in its assessed value ranking in the top 5% locally. This isn't just a home; it's a significant land holding in a desirable area.
This property would best suit buyers who prioritize long-term value in land over a brand-new build, and who may see potential in the existing footprint to customize over time. It's ideal for a growing family seeking space to play and expand outdoors, or for value-conscious buyers who understand that land is a finite resource and a large lot in a mature neighbourhood like Canterbury Park is a strategic asset.
Section 2: Frequently Asked Questions
Q: How does the large lot size impact my costs?
A: While offering great privacy and potential, a larger lot typically means higher property taxes and increased maintenance (like lawn care or snow clearing) compared to properties with standard-sized lots in the same area.
Q: The home was built in 2004. What major systems might need attention soon?
A: Being 20+ years old, key components like the roof, HVAC system, and major appliances are likely at or beyond their typical lifespan. A thorough inspection is advised to budget for potential upcoming replacements or updates.
Q: The assessed value is listed at $52.90k, but it sold for $460k. Why is there such a difference?
A: In Manitoba, the assessed value is set by the municipal government for taxation purposes and is not intended to reflect market value. The sale price is the true indicator of current market value, driven by buyer demand, condition, and location.
Q: The living area is above average, but not elite. How does the layout feel?
A: With 1,718 sqft spread over two floors plus a renovated basement, the home offers good separation of living and sleeping areas. The perceived space is significantly enhanced by the large lot, which can make the interior feel more open and connected to the outdoors.
Q: What is the significance of the "Elite" and "Top %" rankings provided?
A: These rankings contextualize the home's specific metrics (like lot size or year built) against immediate neighbours, the wider Canterbury Park area, and all of Winnipeg. They highlight that this property's greatest strength is its land size relative to its direct surroundings, which is a key driver of value.