Property Overview
This home at 94 Biscayne Bay in Winnipeg's Maybank neighbourhood presents a specific and practical value proposition. Built in 1954, its key appeal lies in being a more affordable entry point into a stable area. With 888 sqft of living space and a modest lot, it is a compact, no-frills property. Its assessed value is consistently below average for its street, neighbourhood, and the wider city, indicating a lower property tax burden and an accessible price point. The home last sold in the $250k-$300k range in 2024, aligning with its position as a value-oriented option.
It would suit first-time buyers seeking a foothold in the market, investors looking for a rental property with a lower entry cost, or downsizers wanting to maintain homeownership with minimal upkeep. Its appeal is not in size or luxury, but in financial accessibility and simplicity. A thoughtful perspective is that its 1954 build date makes it the oldest home on its street, which could imply well-established infrastructure and mature landscaping, but also warrants a close look at maintenance and updates.
Frequently Asked Questions
1. Is this a good value for the area?
The data suggests it is priced for value. Its assessed value and recent sold price are below area averages, meaning you may get more house for your money elsewhere in Maybank, but you’ll pay more. This property offers a cost-effective way into the neighbourhood.
2. What should I know about the size and lot?
The living space (888 sqft) is below average for the area, indicating a cozy layout. The lot is also smaller than most in Winnipeg. This means lower maintenance but less private outdoor space and limited room for expansion.
3. The home was built in 1954. What does that mean?
As the oldest home on the block, it may have classic charm but likely requires a thorough inspection for aging components like the roof, plumbing, and electrical systems. Budgeting for updates should be part of your planning.
4. How are the property taxes?
With an assessed value significantly below the city average, the municipal property taxes should be comparatively lower. This is a tangible, ongoing financial benefit of this home.
5. Who are the most likely neighbours?
Given the stable, mid-century build date of the street, you can expect a mix of long-term residents and newer owners. The nearby comparable sale at 88 Rampart Bay (similar size, same year) suggests the immediate area has homes of a similar vintage and scale.