Property Overview: 26 Gretna Bay, Winnipeg
Key Characteristics & Appeal
This home at 26 Gretna Bay in Meadowood is a study in solid, established value. Built in 1974, its 997 sqft living space is very typical for its immediate street and neighborhood, offering a practical layout without excess. The true standout is its financial profile: with an assessed value of $41,700, it ranks in the top 11% on its own street and the top 17% in Meadowood, indicating it is viewed as a higher-value property within its local context. The lot size of just over 5,000 sqft provides standard suburban outdoor space.
The appeal lies in its position as a well-above-average asset in a familiar, average-setting. For a buyer, this suggests a home that has been maintained or features that are well-regarded by assessors relative to its peers. It last sold between $350k-$400k in 2020. This property would suit a pragmatic buyer—perhaps a first-time homeowner or a downsizer—who prioritizes financial prudence and established community character over size or newness. It’s for someone who sees a home as a stable, long-term holding and finds comfort in a property that outperforms its direct neighbors in key value metrics.
Frequently Asked Questions
1. What does a high assessed value ranking actually mean for me?
It primarily means the municipal property assessment is notably higher than many nearby homes, which can reflect positively on the property's condition, features, or desirability on the street. However, it's important to remember that assessed value is for taxation purposes and doesn't directly set market sale price.
2. Is the living space considered small?
At 997 sqft, it is slightly below the Winnipeg city average. However, within the Meadowood neighborhood and especially on Gretna Bay itself, it is squarely average to just below average. This indicates the home's size is very typical for its specific area, which is often more relevant for daily living and resale.
3. The home is 52 years old. What should I consider?
A home from this era may have undergone important updates. The key is to investigate the age and condition of major systems like roofing, windows, plumbing, and electrical. Its above-average assessed value for the area could hint at prior updates, but a thorough inspection is essential.
4. How does the 2020 sale price relate to today’s value?
The $350k-$400k sale price from 2020 is a historical data point. Current market value will be influenced by changes in the local market, any updates made to the home since then, and broader economic conditions. It serves as a reference, not a current appraisal.
5. Why is the city-wide assessed value average shown as $390k?
This appears to be a discrepancy in the provided data, likely a formatting error. The more relevant and consistent figures are the local averages: $38.4k on the street and $37.6k in Meadowood, which confirm this home's assessed value is above average in its immediate vicinity.