960 Renfrew Bay

Property Overview: 960 Renfrew Bay, Winnipeg

Key Characteristics & Appeal

This home at 960 Renfrew Bay presents a distinct value proposition centered on its modern build date within a well-established neighbourhood. Built in 1960, it is notably newer than most homes on its street and in the Mathers area, which typically date to the early 1950s. This suggests potentially fewer immediate concerns with aging infrastructure compared to its peers. The living space of 1,053 sq ft is compact yet functional, sitting close to the average for the immediate area.

The primary appeal lies in its entry-level assessment and recent sale price, which are significantly below averages for the street and neighbourhood. This creates an accessible entry point into a mature community. The lot, while smaller than most in the area, translates to less exterior maintenance. This property would suit first-time buyers, downsizers, or practical investors seeking a lower-cost foothold in a settled area without the premium for a larger lot. Its value is utilitarian: it offers a relatively newer home in a convenient location, prioritizing interior living space over expansive outdoor yard work.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbours?
The assessed value is primarily driven by the property's specific characteristics, notably its smaller lot size and modest living area compared to others on the street. This results in a lower tax assessment, which can be a financial advantage for the owner.

2. The home sold recently in 2023 and 2017. What does that indicate?
The two sales within a six-year period suggest it may have been an investment property or experienced a relatively quick turnover. Requesting the exact sale prices (available via email from the source) would clarify if it was a flip or simply a short-term hold, providing insight into its market trajectory.

3. Is a smaller lot a major drawback?
It depends on your lifestyle. For those who prefer low-maintenance outdoor spaces, it's a benefit. However, it limits potential for large additions, pools, or extensive gardening, and can feel crowded if neighbouring homes are much larger.

4. How does the 1960 build date compare?
In this context, a 1960 build is a relative advantage. With many area homes built 5-10 years earlier, this property may have features from a slightly newer construction era and could have experienced less wear over time, though a full inspection is still essential.

5. What are the key comparisons to look at?
The nearby property at 907 Renfrew Street is a useful benchmark—built in 1959 with a similar floor plan (912 sq ft) but a significantly higher assessed value, highlighting how lot size and condition influence valuation. Also, reviewing the "Similar Assessed Value" listings can show what other types of properties exist at this price point across Winnipeg.