4 Vera Bay

Property Overview & Appeal

4 Vera Bay presents a solid, mid-century home in Winnipeg's Margaret Park neighbourhood. Its primary appeal lies in its exceptional lot size—over a quarter-acre at 11,446 sqft—which ranks in the top 1% of the local area and top 4% city-wide. This offers rare potential for expansion, gardening, or outdoor space in a city setting. The house itself is balanced, with living space and assessed value that are average for its immediate street but above average for the broader Margaret Park area, suggesting a well-regarded location within the neighbourhood. Built in 1968, it is typical for its era.

This property would suit a buyer who values land over a large existing footprint. It’s ideal for someone with long-term vision, perhaps looking to customize or extend a home, or who simply desires generous private outdoor space without moving to the rural fringe. It also represents a pragmatic entry into a neighbourhood where the lot itself is a standout, appreciating asset.

Key Questions for Consideration

1. What does the "above average" assessment for Margaret Park actually mean?
The home's assessed value ranks in the top 10% for the Margaret Park area, indicating it is valued higher than many neighbouring properties. This often reflects a combination of its desirable lot, maintained condition, and specific location within the neighbourhood.

2. The sold price range is broad. What factors might determine where it lands?
The recent sale range of $350k-$400k reflects public data. The final price would be heavily influenced by the condition of the interior systems (roof, plumbing, electrical) and any modernizations, as the value is anchored significantly by the premium lot.

3. How does the average living area compare?
At 1,255 sqft, the home is slightly below the street average but above the city average. This suggests a comfortable, though not expansive, interior layout that is efficient for its lot size.

4. Is the large lot more of an opportunity or a responsibility?
It's both. It offers unmatched potential for additions, a large garden, or recreational space. However, it also means higher maintenance (lawn care, landscaping) and potentially higher property taxes relative to houses on standard lots.

5. What’s the immediate neighbourhood character like?
With very similar homes in age and value built closely together on Vera Bay, the street likely has a consistent, established character. The lot size of this property, however, provides a tangible sense of privacy and scale that its direct neighbours may not have.