Property Overview: 954 Renfrew Bay, Winnipeg
Key Characteristics & Appeal
This home at 954 Renfrew Bay in the Mathers neighbourhood presents a distinct profile defined by its contrasts. Its primary appeal lies in being a newer-built home within an older, established area. Built in 1960, it ranks among the top 5% newest homes on its street, offering potential advantages in building materials, layout, and systems compared to many neighbours. With 1,053 sqft of living space, it sits around the city-wide average, providing a practical footprint for daily life.
The property’s standout characteristic is its very low assessed value ($24,700), which places it well below average for the area and city. This, combined with the modest lot size (3,337 sqft), suggests it could be an accessible entry point into the neighbourhood. The appeal here is practical and financial: a chance to own a relatively newer, average-sized home with a correspondingly lower property tax burden. It would suit a first-time buyer, an investor, or someone seeking a manageable property with the intent to renovate or hold long-term in a mature community. A thoughtful perspective is recognizing that a lower assessment on a newer home can indicate either a significant value opportunity or reflect the compact lot and potential need for updates, making thorough inspection key.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
The assessed value is based on municipal evaluation, which considers factors like lot size, living area, age, and recent sales. This home’s below-average lot size and potentially modest finishes for its newer age likely contribute to its lower assessment compared to larger-lot properties in Mathers.
2. What does the sold price history indicate?
The home sold between $200,000 and $250,000 in 2020. This historical price, significantly higher than the current assessed value, highlights the difference between market value and tax assessment. For the exact sale price, you can request details via the provided email service.
3. Is the smaller lot size a major drawback?
It depends on your priorities. The lot is smaller than most in Mathers, which means less outdoor maintenance but also less private yard space. It can be a benefit for those seeking a low-maintenance property or a potential limitation for those wanting extensive gardening or outdoor recreation.
4. As a newer home in an older area, should I expect major renovations?
While being newer (1960) than many area homes reduces the likelihood of some age-related issues, any home of this vintage will have components nearing the end of their lifespan. The roof, windows, and major systems should be carefully evaluated during an inspection.
5. Who are the most comparable nearby properties?
The listing shows nearby homes on Renfrew Bay with similar addresses, but for true comparables in terms of value, it lists homes across Winnipeg with the same assessed value (e.g., $24,700). This suggests looking at those properties can provide context for what this assessment level typically buys in different neighbourhoods.