Property Overview: 163 Woodfield Bay
This 1,620 sqft two-storey home in Elmhurst, built in 1982, presents a compelling opportunity in Winnipeg's market. Its appeal lies in a combination of above-average space, a well-established neighbourhood, and strong value metrics. The home sits on a near 5,000 sqft lot and features a finished basement and an attached garage.
Key Characteristics & Ideal Buyer
The property stands out for its generous proportions relative to its peers. With a living area larger than 78% of Winnipeg homes, it offers substantial space for the price point. Its 1982 construction date is notably newer than almost all other homes on its street, suggesting it may have modern advantages in a mature setting. The finished basement adds functional living or recreational space.
Its appeal is grounded in solid, practical value. The current assessed value ranks highly, indicating strong official valuation for tax purposes. A thoughtful perspective is that this home represents a "middle-ground" find: it's not the newest nor the largest in the broader area, but it consistently ranks above average across multiple categories—size, age, and value—within its immediate locale. This consistency can indicate a balanced, stable investment.
This home would suit a buyer looking for a move-in ready, spacious family home in a long-established neighbourhood without paying a premium for a brand-new build. It’s ideal for those who prioritize interior space and a classic two-storey layout, and who appreciate a property that holds a competitive position in its specific community.
Frequently Asked Questions
1. How does the age of the home (1982) affect its value and potential needs?
While 44 years old, it is newer than 99% of homes on its street. This suggests major structural components are likely in good condition, but buyers should still budget for updates to era-specific features like windows, roofing, or mechanical systems, which may be nearing the end of their typical lifespan.
2. The community ranking for size is lower than the city-wide ranking. What does this mean?
The home is larger than 78% of Winnipeg homes but only 64% in Elmhurst. This indicates Elmhurst is a neighbourhood with many larger, established homes, so while this property is spacious overall, it faces more local competition in the size category.
3. What is the significance of the 2017 sale price compared to the current assessment?
The 2017 sale of $405,000 and the 2024 assessment of $486,000 show a trajectory of increased value. It's important to note that assessed value is for taxation and not necessarily market price, but the high assessment rank suggests the property is officially valued well above many area comparables.
4. Is the finished basement included in the 1,620 sqft living area?
Typically, in Manitoba, the listed "living area" refers to above-grade, finished space. The finished basement is an additional asset, providing extra usable square footage that is not reflected in the main 1,620 sqft figure.
5. The lot is large, but how does the property rank for land size?
The provided data does not include a specific ranking for the 4,948 sqft lot size. The rankings focus on living area, age, and value. The lot size is a separate, fixed feature that contributes to the property's overall appeal and outdoor space.