Property Overview: 53 Farwell Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home, built in 1957, presents a classic Winnipeg bungalow profile with distinct characteristics. Its primary appeal lies in its generous, above-average lot size of over 6,700 sqft, offering significant outdoor space that stands out in its immediate neighborhood and city-wide. The living area of 1,036 sqft is modest but functional, aligning with the average for similar homes in the broader Maybank area. The property’s assessed value is notably below average for its specific street, which may indicate potential value relative to its neighbors, but aligns closely with city-wide averages for comparable homes.
This property would suit a pragmatic buyer who values land and space over a large interior footprint. It’s ideal for someone looking for a manageable-sized home with room for gardening, expansion, or outdoor recreation. The data suggests it’s a “middle-of-the-road” home in many metrics, making it a grounded option for first-time buyers, downsizers, or investors seeking a stable asset in a well-established area. Its appeal is less about standout luxury and more about solid fundamentals and the less common benefit of a larger parcel of land in a mature neighborhood.
Section 2: Frequently Asked Questions
1. Why is the assessed value on this street so low compared to neighbors?
The data shows this home has the lowest assessed value on Farwell Bay. This could be due to a variety of factors, including the home’s specific condition, interior finishes, or improvements relative to others on the street. It’s a key point for due diligence, potentially representing an opportunity or indicating needed updates.
2. How does the lot size compare practically?
At 6,718 sqft, the lot is significantly larger than the city average. This translates to more private yard space, potential for additions like a garage or shed, and fewer constraints on landscaping compared to many standard city lots.
3. What does the sale history from 2017 tell us?
The home sold for an estimated $250k-$300k in 2017. This historical price provides a benchmark, but market conditions have evolved. Reviewing recent sales of similar-sized homes in Maybank is essential for understanding its current market value.
4. Is the living space sufficient for a family?
At just over 1,000 sqft, the living area is compact. It would suit a small family, a couple, or an individual comfortably. Buyers with needs for multiple large bedrooms or dedicated home offices should carefully consider the layout and potential for renovation.
5. The home is nearly 70 years old. What should I consider?
A home of this age will likely have had many systems updated over time. A thorough inspection is crucial to understand the condition of the roof, foundation, plumbing, electrical, and insulation. Its vintage also means it was built with different standards and materials than modern homes.