Property Summary: 42 Biscayne Bay, Winnipeg
Key Characteristics & Appeal
This home at 42 Biscayne Bay in Maybank is a study in desirable neighbourhood positioning. Built in 1954, it is one of the older homes on its street, which can imply a well-established, mature streetscape. The key appeal lies in its strong standing within its immediate area. The living space (1,032 sqft) is notably above average for Biscayne Bay, ranking in the top 3% of the street. Combined with a lot size that's also above the street average, it offers more space than many of its direct neighbours. However, the context shifts when viewed city-wide, where both the home and lot size are more modest, highlighting that the value here is intrinsically linked to the specific location.
The property would suit a pragmatic buyer who understands neighbourhood dynamics. It’s ideal for someone seeking a home that stands out on its block for space and vintage, without paying for the largest offerings across the entire city. The assessed value is sensible for the street but sits below averages for wider areas, suggesting potential value for a buyer focused on the Maybank community. It’s a solid choice for those who prioritize a strong position in a specific locale over having a statistically large property on a metropolitan scale.
Frequently Asked Questions
1. How does the home’s age affect its value?
At 72 years old, it’s among the oldest on Biscayne Bay. This can be a mark of character in a stable area but typically means buyers should budget for updates and a thorough inspection for aging components like plumbing, wiring, and the roof.
2. The assessed value seems low compared to the sold price range from 2020. Why?
The assessed value (approximately $26k) is for municipal tax purposes and is not a market valuation. The 2020 sold price range of $200k-$250k reflects the actual market value at that time. Market value is influenced by many factors beyond the tax assessment.
3. What does it mean that the home ranks highly on its street but lower city-wide?
This indicates Biscayne Bay is a neighbourhood of relatively modest, older homes. You are getting a comparatively spacious home for this street, but it won’t compete with the size of newer or more suburban properties elsewhere in Winnipeg. The appeal is rooted in the specific community.
4. Are the sold prices of nearby homes a good indicator for this property?
The listed nearby property at 97 Rampart Bay (Assessed $240k) is noted "for reference," but its assessed value is significantly higher, suggesting it may be quite different. For a clearer picture, reviewing the exact sale history of 42 Biscayne Bay itself and requesting the manual price history service offered is recommended.
5. Who should consider requesting the exact sold price history?
Serious buyers who are developing their offer strategy should use this service. Knowing the precise last sold price (not just a range) and the history of price changes helps in understanding the home’s market trajectory and forming a competitive, informed offer.