Property Summary: 2 Veronica Bay, Winnipeg
Section 1: Overview & Appeal
This home at 2 Veronica Bay in the Margaret Park neighbourhood presents a compelling mix of space, location, and value. Its key characteristic is a well-proportioned 1,524 sqft living area, which is notably spacious both for its immediate street and the wider city, offering more room than many comparable properties. The lot, at 6,125 sqft, is a significant asset—it’s larger than most in Winnipeg and particularly generous for the Margaret Park area, providing ample outdoor potential.
The appeal lies in this above-average footprint paired with a below-average assessed value for its specific street. This suggests a potential value opportunity, especially for buyers willing to invest in updates, as the home was built in 1967. It would suit a practical buyer looking for a solid foundation in a mature neighbourhood—someone who prioritizes indoor and outdoor space over a modern, turn-key finish. It’s also a sensible fit for those who appreciate a home’s standing within a broader context; while it’s one of the more modestly assessed homes on Veronica Bay, it holds a strong position when compared to the entire city, indicating a desirable location without the premium price tag of its immediate neighbours.
Section 2: Frequently Asked Questions
1. What does the "below average" assessed value on its street actually mean?
It means that, of the nine comparable properties on Veronica Bay, this home has the 8th highest assessed value. This isn’t necessarily negative; it can indicate a lower property tax burden and may reflect a home that hasn’t been recently renovated, presenting an opportunity to add value.
2. How spacious is the property compared to typical Winnipeg homes?
The living area is in the top 29% city-wide, meaning it’s larger than about 71% of Winnipeg homes. The lot size is even more distinctive, being in the top 28%, so you get more house and significantly more land than most.
3. The home was built in 1967. What should I consider?
Built in 1967, the home is of a typical age for its neighbourhood and city. The key consideration is the condition of major aging components like the roof, windows, plumbing, and electrical systems, which may need attention or updating.
4. The last sale was between $350k-$400k in 2021. How is that useful?
This price range provides a recent market benchmark. Understanding how the property’s assessed value and any potential improvements since 2021 relate to that sale price will be crucial for determining its current market value.
5. Why is the lot size highlighted as a key feature?
At 6,125 sqft, the lot is substantially larger than the city average (~5,139 sqft) and the Margaret Park average. This offers rare potential for expansion, gardening, outdoor living, or simply more privacy—a feature that is increasingly difficult to find in established neighbourhoods.