Property Overview: 2 Silverwood Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the Jameswood neighbourhood presents a practical and straightforward opportunity. Built in 1957, its key characteristic is a well-sized, above-average lot of 6,501 sqft, offering more outdoor space than most homes on its street and in the wider area. The living area of 1,029 sqft is typical for the immediate locale. The home has a basement but it is not renovated, and there is no garage or pool.
Its appeal lies in its grounded, no-frills potential. For the right buyer, the value is in the land and the solid, mid-century bones of the house. It suits a hands-on buyer looking for a footprint to customize over time, or an investor seeking a rental property in a stable neighbourhood. A less obvious perspective is its age: while some may see a 69-year-old home as a concern, the data shows it is actually one of the newer homes on its street and in Jameswood, suggesting it sits in an established, mature area where newer construction is rare. This isn't a standout luxury property, but a balanced, average-valued home in its context, where the generous lot size is the standout feature for future enjoyment or expansion.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market price?
No. The assessed value (listed as $30.90k) is for municipal tax purposes. The actual market price is determined by recent sales, condition, and demand. The sold price history shows a range from $27.50k to $30.50k for a sale in late 2020, which provides a more relevant benchmark.
2. What does "basement, not renovated" typically mean?
This indicates the basement is unfinished or remains in its original state. It is usable space but will likely require updates for modern living standards. Buyers should budget for potential moisture-proofing, insulation, and finishing to fully utilize the area.
3. How does the lot size compare meaningfully?
The lot is notably larger than many. It ranks in the top 19% on its street and top 10% in Jameswood. This means more yard space for gardening, play, or additions compared to nearby properties, which is a significant advantage in a neighbourhood of older homes.
4. The home has no garage. Is that common here?
For a home of this era and style in Winnipeg, the absence of a garage is not uncommon. Buyers should plan for on-street parking or consider the cost and feasibility of adding a driveway and garage or carport in the future, taking advantage of the large lot.
5. Why is the year built considered "above average" or "Elite" locally?
While 1957 is not new citywide, this specific street and the Jameswood area contain many homes built even earlier. Therefore, this home is among the newer builds in its immediate peer group, which can suggest slightly more modern construction techniques or materials for the area.