Property Overview: 41 Silverwood Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home at 41 Silverwood Bay in the Jameswood neighbourhood presents a straightforward, value-oriented opportunity. Built in 1957, it is one of the older homes on its street and in the immediate area, which can suggest a well-established streetscape and mature landscaping. With 1,040 sqft of living space and a detached garage, it sits around the average size for the area. Its assessed value is notably below average for the street and city, which often indicates a property ripe for updates or a chance to enter a neighbourhood at a relatively accessible price point.
The appeal lies in its generous 6,091 sqft lot, which is above average for Jameswood and city-wide, offering valuable outdoor space and potential. Its history shows steady price appreciation over recent sales. This property would best suit a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values land size over a modern, turn-key home and is prepared for the possibilities and responsibilities that come with an older house. It’s a canvas for someone looking to add value through renovations or who simply prioritizes space and location over a recently updated interior.
Section 2: Frequently Asked Questions
1. What does the below-average assessed value typically indicate?
A lower assessment compared to neighbours can signal that the home has not been recently renovated or assessed with major upgrades. It often translates to a more affordable purchase price and property taxes, but buyers should budget for potential updates.
2. How significant is it that this is one of the older homes on the street?
Being built in 1957 makes it a founding home of the area. This can mean charming character and a mature lot, but it also necessitates a thorough inspection for aging components like the roof, plumbing, wiring, and foundation to understand future maintenance needs.
3. What are the advantages of the above-average land area?
The lot size of over 6,000 sqft is a key asset. It provides ample yard space for gardening, recreation, or pets. In the long term, it also offers greater flexibility for potential expansions, like an addition or a large garage/workshop, subject to local zoning.
4. The sales history shows price increases. Is this trend reliable?
While the sold price ranges show appreciation between 2016 and 2022, this reflects broader market conditions and the property’s specific sales history. It is not a guarantee of future performance, but it does indicate the home has held market interest.
5. Who is the most likely buyer for this type of property?
This home is a practical match for value-driven buyers. This includes first-time buyers seeking an entry point into the neighbourhood, hands-on owners willing to renovate over time, or investors looking for a property with a strong land-to-value ratio and rental potential.