Property Overview: 22 Leeward Place, Island Lakes
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in the established Island Lakes neighbourhood presents a practical opportunity. Built in 1992, it is one of the newer homes on its street. With 1,317 sqft of living space and an unrenovated basement, it offers functional room to grow. The attached garage and a 5,400 sqft lot provide everyday convenience and decent outdoor space.
Its primary appeal lies in its value proposition within a desirable area. While the home is below average in size and assessed value for Island Lakes, it sits at a city-wide average for living space and above average for its assessed value compared to all Winnipeg homes. This suggests a more accessible entry point into a mature neighbourhood known for its lakes, pathways, and amenities. It would suit first-time buyers or downsizers seeking a manageable, single-level layout in a quiet, family-friendly community without the premium for a larger or fully updated property. A thoughtful perspective is that an unrenovated basement, while a project, allows the next owner to customize the space to their needs without paying for someone else’s finishes.
Section 2: Frequently Asked Questions
1. Is this a good value for the neighbourhood?
The data suggests it is priced below the Island Lakes average, offering a chance to enter this neighbourhood at a relatively lower point. You are paying for location and lot, with the home itself representing a solid foundation.
2. What does “below average” for living area in Island Lakes mean practically?
It means the home’s square footage is less than many others in the area. For daily living, it translates to cozier but efficient spaces—sufficient for a couple or small family but potentially requiring creative use of the basement for additional living or storage.
3. The assessed value seems low. Does that affect property taxes?
Not directly. Property taxes are based on the mill rate applied to your assessed value. A lower assessment can mean lower taxes compared to a similar home with a higher assessment, but always confirm with recent tax statements.
4. What are the implications of an unrenovated basement?
It offers potential but requires investment. You have a blank canvas to finish as you wish, but must budget for insulation, framing, drywall, flooring, and possibly electrical or plumbing updates. Ensure you check for any moisture issues first.
5. How does the 1992 build year impact the home?
Homes from this era typically have modern wiring and standard insulation. However, major components like the roof, windows, furnace, and water heater are likely at or beyond their typical lifespan and should be carefully inspected.