Property Overview: 42 Boisselle Bay, Island Lakes, Winnipeg
Key Characteristics & Appeal
This two-storey home in the established Island Lakes neighbourhood presents a compelling blend of space, location, and value. Its primary appeal lies in its generous proportions, offering 2,297 sqft of living area—a size that places it within the top 5% of homes citywide and marks it as notably spacious for its immediate area. The property sits on a large 7,241 sqft lot, providing ample outdoor space that is increasingly rare. A key feature is the renovated basement, adding functional living space, and the home includes an attached garage.
While built in 1987, its assessed value of $600k consistently ranks above average across street, neighbourhood, and city comparisons, suggesting it is perceived as a solid asset. The home suits buyers looking for a move-in ready property with room to grow, who value established, leafy neighbourhoods over brand-new subdivisions. It’s ideal for a family seeking a balance of indoor and outdoor space without venturing into the premium price tier of newer, custom-built homes. A thoughtful perspective is that this property offers the "established neighbourhood premium"—you're paying for mature landscaping, community stability, and proven livability rather than just square footage.
Frequently Asked Questions
1. How does the home’s age affect its value and potential?
Built in 1987, the home is from an era of solid construction but may have original major systems (like roof, windows, furnace) nearing or due for updates. Its above-average valuation suggests these factors are already considered, and the renovated basement is a significant positive. The value lies in the well-proportioned layout and lot size, which are often larger than in newer builds.
2. Is the assessed value a reliable indicator of the likely selling price?
The $600k assessment is a strong benchmark for municipal taxation, but market conditions ultimately determine sale price. Its consistent ranking above local averages indicates it’s a substantial property for the area. Historical data shows a sale in the $565k-$595k range in mid-2021, providing a recent market reference point.
3. What does the "top percentage" ranking actually mean for a buyer?
These rankings contextualize the home against peers. For example, being in the top 3% for living area in Island Lakes means it is significantly larger than most homes in this desirable neighbourhood. This quantifies an intuitive feeling of "more house for the money" and can be a factor for long-term value retention.
4. Who would this home not suit?
It may not suit buyers seeking a modern, open-concept layout without any renovation projects, as some original floor plan elements may remain. Those prioritizing a brand-new home with builder warranties, or wanting a pool, would need to look elsewhere.
5. How can I get the exact historical sale price?
The precise sale price from July 2021 is not publicly listed in detail. The listing agent or a registered real estate professional can access this exact data through the local MLS system. Some property data websites also offer this information directly to verified users or upon request.