Property Overview
This 4-level split home at 2 Chenier Bay in Winnipeg's Island Lakes neighbourhood presents a practical opportunity. Built in 1986, it offers 1,567 sqft of living space on a 5,718 sqft lot with an attached garage. The home's assessed value is notably lower than most in its immediate area, which is a defining characteristic. The basement exists but is noted as not being renovated.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as a value-oriented entry point into the well-established Island Lakes community. While its living space is fairly average for the area, its assessed value ranks at the very bottom on its own street and below average in the neighbourhood. This significant gap suggests potential for equity growth through updates, making it a candidate for a "live-in and improve" strategy. The lot size, while smaller than some on the street, is still generous by city-wide standards.
It would suit a first-time buyer or an investor looking for a foothold in a mature suburb without the premium price tag of a turn-key home. It's also a match for a buyer comfortable with a project, as the unrenovated basement and overall value metrics indicate the home may require modernizing. A less obvious perspective is that its lower assessment could translate to relatively lower property taxes compared to neighbouring homes with similar square footage, providing ongoing savings.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
While the exact reason isn't specified, a below-average assessment for the street and neighbourhood often correlates with a home that has seen fewer updates or renovations compared to its peers. The note that the basement is "not renovated" supports this possibility.
2. Is the sold price history provided the exact price?
No, the listed sold price from 2019 is a range based on public data. You can request the exact sold price by email, which the service provides manually without using your email for unsolicited marketing.
3. What does the ranking data (e.g., "Top 65%") actually mean?
These rankings compare this home to specific groups. For example, "Top 65%" for living area on its street means its square footage is greater than 65% of comparable homes on Chenier Bay. It's a relative performance metric, with a higher percentage generally being better.
4. What are the implications of a 4-level split design?
4-level splits typically offer good separation of living and sleeping areas across multiple half-levels. This can provide privacy but may involve more stairs than a bungalow or 2-storey layout. It's a common and functional style for homes of this era.
5. How does this home compare to the city-wide Winnipeg average?
Interestingly, while it sits below average in its immediate area for value and lot size, it ranks above the city-wide average for living space and year built. This highlights Island Lakes as a neighbourhood of generally larger, newer homes, where this property is a more affordable option within that context.