Property Overview: 49 Silverwood Bay, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1957, situated on a standard residential lot in the Jameswood neighbourhood. With 1,040 sqft of living space, it offers a practical footprint that is very typical for its immediate street and area, making it a straightforward and familiar layout for many buyers. A detached garage adds functional storage or parking.
The primary appeal lies in its value proposition and established character. The home’s assessed value is notably below average for its street and area, which can present an accessible entry point into the neighbourhood. Its 1957 build date is actually among the oldest on the block, suggesting a well-rooted presence and potential for vintage charm, though this also implies a need for diligent maintenance and updates. It would suit a first-time buyer, an investor, or a downsizer looking for a no-frills, single-level home in a mature area without a premium price tag. The data indicates you are paying primarily for location and land, with the house itself representing a functional canvas.
Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
Based on assessed value, it ranks near the bottom (15th out of 16) on Silverwood Bay, meaning its official valuation is lower than most neighbours. This can indicate a better purchase price opportunity, but it may also reflect the home’s condition, size, or specific features relative to others.
2. What does the sold price history tell us?
The home sold in July 2019 for an estimated range of $215k-$245k. To understand current value, this should be compared to recent sales of similar homes in Jameswood, as the market has changed significantly since then.
3. Are there any concerns with a 1957 build?
While the home is structurally sound, its age places it in the top 2% oldest in Jameswood. Prospective buyers should budget for and inspect age-related systems like plumbing, electrical, roofing, and insulation, which may need updating or pose higher maintenance costs.
4. How does the lot size compare?
At 5,599 sqft, the lot is slightly below average for the street but typical for the Jameswood area. It provides a standard backyard space for a mature neighbourhood—sufficient for gardening and recreation but not exceptionally large.
5. Why is the city-wide assessed value comparison so different?
The city-wide benchmark average shown (~$390k) includes all property types and sizes across Winnipeg. The more relevant comparisons are the "Same street" and "Same area" metrics, which show this home assessed around $28k-$32k, confirming its position as a lower-valued property within its specific local context.