Property Overview: 23 Langley Bay, Winnipeg
Key Characteristics & Appeal
This one-storey home in Fairfield Park presents a distinct value proposition defined by its contrasts. Built in 2007, it is a notably newer home compared to the Winnipeg average, offering modern systems and less immediate concern for major age-related repairs. The home features a renovated basement and an attached garage. However, with 1,210 sqft of living space, it is significantly more compact than most homes in its immediate neighbourhood and street, ranking in the bottom 3% for size locally.
Its primary appeal lies in this juxtaposition: it offers the benefits of a newer build within an established area, but at a more accessible price point, as reflected in its below-average assessed value for the street and Fairfield Park. This creates an opportunity for buyers who prioritize a modern, low-maintenance foundation over sheer square footage. The lot size is average for the area, providing balanced outdoor space.
This property would best suit first-time buyers, downsizers, or pragmatic investors seeking a turn-key, newer property in a mature neighbourhood without paying a premium for the largest homes on the block. It’s for those who value efficient, modern living spaces and see the smaller size as a manageable advantage rather than a drawback.
Frequently Asked Questions
1. Is this home a good value?
The data suggests it is priced accessibly for its desirable street and newer construction. While its living space is below average for Fairfield Park, its assessed value is also proportionally lower, and it ranks well above the citywide average for value, indicating a competitive entry point into the area.
2. Why is the living area smaller than neighbours' homes?
The home was built in 2007, later than many surrounding properties. Building trends and lot subdivisions over time often result in newer infill homes having more compact footprints compared to older, originally built homes in the same area.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or layout. This is a key detail to clarify with the listing agent to understand if it adds legal living space, a rental suite, or finished recreational areas.
4. How does the 2017 sale price relate to today's value?
The home sold for $40,500 in 2017, while its current assessed value is $48,400. This historical data shows a trend, but market conditions have evolved. A current professional appraisal or comparative market analysis is essential to determine its present market value.
5. For a newer home, is the assessed value surprisingly low?
Not necessarily. The assessed value is below average for Langley Bay and Fairfield Park, which are comprised of larger, higher-value homes. Citywide, its assessment ranks in the top 22%, confirming it holds solid value overall, just within a particularly high-calibre local context.