Property Overview: 502 Wilton Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in the established Grant Park neighbourhood, built in 1956. With 910 sqft of living space, it is notably smaller than many homes on its own street but offers a recently renovated basement, increasing its functional space. The lot is a generous 5,204 sqft, providing ample outdoor room for a home of this size—a valuable asset in the neighbourhood. A detached garage completes the picture.
The primary appeal lies in its position as a relatively affordable entry point into a mature area. The renovated basement adds modern utility to a vintage structure, making it a practical, low-maintenance option. The large lot offers significant potential for gardening, expansion, or simply enjoying private outdoor space that is rare for homes at this price point.
This property would suit first-time buyers, downsizers, or investors seeking a character home with a solid foundation and a manageable footprint. It’s for someone who values location and land size over a large interior and sees potential in a home that is efficient and grounded.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to the area?
At 910 sqft, the living area is below average for Wilton Bay but closer to the average for the broader Grant Park area. This smaller size is a key factor in its more accessible price point for the neighbourhood.
2. What does the assessed value indicate?
The assessed value is significantly below average for both the street and Grant Park, but near the citywide average. This often reflects the home’s smaller size and vintage, not necessarily its condition or desirability, and can represent a value opportunity in a sought-after location.
3. Is the large lot a common feature here?
Yes and no. The lot is above average in size for Grant Park, but closer to average for the specific street and citywide. For this particular home, the lot is a standout feature, offering disproportionate outdoor space relative to the house itself.
4. The home sold recently in 2023 and 2021. What does that suggest?
The recent sales activity indicates a property that is likely in livable condition and attractive to the market. It may appeal to buyers looking for a home that doesn’t require a long-term hold to see market movement.
5. Who might this home not suit?
It may not suit buyers who prioritize abundant above-ground living space or a modern open-concept layout. The one-storey design with a smaller main-floor footprint requires efficient use of space, including the renovated basement, for comfortable daily living.