Property Overview: 71 Woodford Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 71 Woodford Bay in Meadowood is a study in practical value and positioning. Built in 1973, its key characteristic is its modest scale, featuring 733 sqft of living space on a 5,298 sqft lot, which is notably compact compared to most homes on its own street and in the wider area. The appeal lies in its affordability and efficiency. With an assessed value significantly below the city average, it represents a lower barrier to entry into the Winnipeg housing market. The data suggests it’s not a home for those seeking abundant space, but rather for those who prioritize financial accessibility and manageable upkeep.
A thoughtful perspective is its unique standing regarding age on its street: it’s ranked in the top 3% (1st of 34) for being newer, meaning it is actually one of the most recently built homes on Woodford Bay. This could imply slightly more modern construction standards for the area. The property would suit first-time buyers, downsizers looking to simplify, or investors seeking a rental property with a relatively low tax assessment. Its value proposition is straightforward: a cost-effective, no-frills home in an established neighbourhood.
Section 2: Frequently Asked Questions
1. Is this a small house?
Yes. At 733 sqft, the living area is smaller than approximately 95% of homes citywide and is the 30th smallest of 34 on its own street. It is a compact, efficient layout.
2. Why is the assessed value so much lower than the city average?
The assessed value of $33,700 is based on municipal valuation for tax purposes, which heavily considers factors like living area and lot size. Since this home is well below average in size, its assessment is proportionally lower. It's important to note that recent sold prices (e.g., $300k-$350k in 2021) are market-driven and can be significantly higher.
3. What does the "Elite" ranking for Year Built mean?
This only means that, compared to the 34 homes on Woodford Bay, this 1973-built home is one of the newest. Most of its immediate neighbours were built earlier, around or before 1973.
4. How does the lot size compare?
The lot is 5,298 sqft. It is below average for Woodford Bay but is very close to the typical lot size for the broader Meadowood area, indicating the lot is fairly standard for the neighbourhood, just not for its specific street.
5. Where can I see how this property compares to its neighbours on a map?
A detailed neighbourhood analysis map is available, allowing you to visually compare this home with nearby properties based on year built, living area, assessed value, and lot size. A link is provided to "Open neighbourhood map analysis."