Property Overview
This two-storey home at 27 Tidewater Bay in Winnipeg's Island Lakes neighbourhood presents a compelling blend of space, location, and established character. Its primary appeal lies in offering above-average proportions on multiple fronts within a sought-after community.
Key Characteristics & Buyer Profile
The home's standout features are its generous scale and lot size. With 2,604 sqft of living space, it ranks in the top 9% on its street and the top 1% within Island Lakes. This is complemented by a large 14,360 sqft lot, placing it in the top 2% of the neighbourhood, offering significant outdoor space and privacy. The property includes a renovated basement, an attached garage, and a pool. While the home itself is older, built in 1985, its assessed value is strong, ranking in the top 2% for the area.
Its appeal is for the buyer seeking established prestige and room to breathe. It suits a family looking for a long-term home with ample indoor and outdoor space for growing or entertaining, or someone who values a large, private yard in a mature, well-regarded suburb. A thoughtful perspective is that this property offers the "bones" and land size that are increasingly rare in newer developments, appealing to those who prioritize space over a brand-new build. The recent renovation of the basement also suggests some modern updates within a classic footprint.
Frequently Asked Questions
1. How does the age of the home (built 1985) affect its value and appeal?
While older than many homes in Island Lakes, its above-average assessed value and elite rankings for size and lot indicate these physical attributes significantly outweigh its age. It represents a classic, well-built home in a mature setting, which many buyers prefer for its established landscaping and community feel.
2. Is the pool a valuable asset for resale?
A pool can be a double-edged sword. It's a fantastic private amenity for the right buyer, offering immediate summer recreation. However, it also entails maintenance and insurance considerations. Its value is highly subjective and depends on the buyer's lifestyle.
3. What does the "Elite" ranking for lot size in Island Lakes practically mean?
Practically, it means you are getting one of the largest properties in the neighbourhood. This translates to more privacy, greater potential for gardening, expansions, or outdoor living spaces, and typically a greater distance from neighbouring houses compared to newer, more densely packed subdivisions.
4. The home last sold in May 2023. Why might it be back on the market so soon?
While the exact reason isn't provided, short ownership periods can be due to numerous life changes unrelated to the property itself, such as job relocation, change in family circumstances, or a strategic investment flip. The recent sale provides a clear, modern price benchmark.
5. How does the assessed value relate to the expected market selling price?
The assessed value (for municipal tax purposes) is a formal estimate but is not a direct predictor of market price. Market price is determined by current buyer demand, comparable sales, and the home's condition. The fact that its assessed value is in the top 2% for the area is a strong positive indicator of its underlying worth.