Property Overview: 45 Gull Wing Bay, Island Lakes
This one-and-a-half storey home in Island Lakes presents a compelling blend of space, location, and established value. Built in 1995, it features 1,785 sqft of living space and a renovated basement, anchored by an attached garage. Its true standout feature is the generous 10,214 sqft lot, which offers significant privacy and room for outdoor enjoyment compared to most properties in the city.
The appeal lies in its position as a well-above-average property within its immediate community. While the living space is typical for the street and neighbourhood, the home boasts a significantly larger lot and a higher assessed value than most of its peers. This suggests a premium property within a desirable area. It would suit buyers looking for a established family home in a mature neighbourhood who prioritize outdoor space and see value in a home that stands out in terms of investment and land size within its local market. It’s a solid choice for those who want more than a standard lot without moving to a rural or acreage setting.
Frequently Asked Questions
What does the assessed value ranking actually mean?
The home is ranked in the top 3% of assessed values in Island Lakes and the top 8% on its own street. This indicates it is officially valued much higher than most comparable homes nearby, often reflecting factors like lot size, renovations, or specific location advantages.
How does the lot size compare practically?
At over 10,000 sqft, the lot is approximately 50% larger than the average lot in Island Lakes. This translates to more backyard privacy, greater potential for gardens or recreation space, and generally more distance from neighbours.
The home sold in early 2021. What can that price tell me?
The sold price range from 2021 provides a historical benchmark, but market conditions have likely changed. The more relevant data point is the current assessed value, which is significantly higher than the neighbourhood average, suggesting strong value retention or growth.
Is a “one-and-a-half storey” style common here?
Yes, this style is typical for homes built in this era in Winnipeg’s suburbs. It usually means a main floor with primary living spaces and a second floor that may have sloped ceilings (under the roofline), often housing bedrooms.
The living area is noted as “around average” for the street. Is that a concern?
Not necessarily. It means the interior size is consistent with other homes on Gull Wing Bay, which are themselves larger than the city average. The home’s premium is driven more by its lot size and assessed value rather than sheer square footage.