Property Summary: 76 Biscayne Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This 888 sqft home, built in 1954, presents a straightforward opportunity in Winnipeg's Maybank neighbourhood. Its primary appeal lies in its position as a modest, lower-cost entry point into a stable residential area. The home's assessed value is notably below average for its immediate street, neighbourhood, and the wider city, which could signal an affordable purchase price and correspondingly lower property taxes.
The property suits practical, value-conscious buyers. It would fit a first-time homebuyer prioritizing getting into the market over size or modern finishes, or an investor looking for a rental property with a manageable overhead. A less obvious perspective is its appeal to those interested in a "blank slate" home; its smaller scale and lower assessed value make it a candidate for a gradual, budget-friendly renovation where the owner can add value over time without the pressure of a high initial mortgage.
It's important to note the home's physical characteristics are consistently below regional averages. The living area is compact, and the lot size is significantly smaller than most in Winnipeg. This isn't a property for those needing ample space, but rather for those who see utility in a modest footprint.
Section 2: Frequently Asked Questions
1. Is this a good value for the area?
Based on the data, the home's assessed value is in the bottom 20% for Biscayne Bay and the bottom 10% for the Maybank neighbourhood. This suggests it is priced for affordability rather than premium features or size, potentially offering a lower-cost entry into the area.
2. What does the sold price history indicate?
Public records show it last sold between $150,000 and $200,000 in 2019. This historical range, combined with its current below-average assessed value, can provide a baseline for understanding its market position, though current conditions will determine today's value.
3. How does the lot size impact the property?
The land area of 1,889 sqft is less than half the average for Maybank. This means smaller outdoor space but also less maintenance. It's a practical lot suited for a compact home, not for extensive gardens, additions, or pools.
4. The home was built in 1954. What should I consider?
While its age is typical for the street, it is among the oldest on Biscayne Bay. Prospective buyers should budget for a thorough inspection to understand the condition of major aging components like the roof, plumbing, electrical, and foundation.
5. Who are the most likely neighbours?
The directly adjacent properties on Biscayne Bay are very similar in age and living area, suggesting a neighbourhood of established, modestly sized homes. This can indicate a consistent streetscape and potentially long-term residents.