Property Overview
This 3-level split home at 7 Carriage Bay in Winnipeg's Heritage Park neighbourhood presents a practical opportunity in a mature area. Built in 1963, it offers 1,116 sqft of living space and sits on a 4,997 sqft lot, both dimensions that are modest compared to many immediate neighbours but align more closely with city-wide averages. A key updated feature is the renovated basement. The home lacks a garage or pool. Its assessed value is positioned in the middle range for the area, suggesting a price point that reflects its size and vintage rather than premium finishes or lot size.
Key Characteristics & Appeal
The primary appeal of this property is its straightforward, no-frills footprint in an established community. It suits first-time buyers, downsizers, or investors looking for an entry point into the neighbourhood without a premium price tag. The renovated basement adds functional living space and is a notable positive. While the lot is smaller than others on the street, it requires less maintenance. The home’s metrics indicate it is an "average" performer city-wide in terms of size and value, but it trends toward the smaller and older end within its specific block. This creates a nuanced value proposition: you’re buying into the location and community of Heritage Park, but acquiring one of its more compact, original homes. It would suit a pragmatic buyer who prioritizes location over size, and who sees potential in a home that is already partially updated.
Frequently Asked Questions
1. How does the lot size impact the property?
At just under 5,000 sqft, the lot is notably smaller than most on Carriage Bay. This means less yard maintenance and lower outdoor upkeep costs, but also limited space for expansions, large gardens, or extensive outdoor recreation.
2. What does the "renovated basement" typically include?
The listing notes a renovated basement but does not specify the scope. Buyers should inquire about the quality of the renovation, whether it includes a proper bathroom or kitchenette, and if permits were obtained, as this significantly affects the value and usability of the space.
3. Is the lack of a garage a major concern?
For this area and vintage of home, not having a garage is not uncommon. Buyers should assess on-street parking availability and consider the cost and feasibility of adding a shed or carport if storage or vehicle protection is a priority.
4. How does the 1963 build year affect the home?
Built in 1963, the home is older than many in Heritage Park. Prospective buyers should pay particular attention to the condition of major aging components, such as the roof, plumbing, electrical systems, and foundation, during an inspection.
5. Why is the assessed value different from the last sold price?
The home sold in early 2018 for an estimated range, and the current assessed value is a municipal assessment for tax purposes. Market value can be higher or lower than this figure based on recent updates, market conditions, and specific buyer demand.