Property Overview
This home at 27 Areisa Bay in Winnipeg's Minnetonka area presents a compelling blend of space, location, and established value. Its primary appeal lies in offering above-average dimensions on a desirable street, providing a sense of privacy and room to grow that is increasingly rare.
Key Characteristics & Appeal
The home's standout feature is its generous scale. With 2,525 sqft of living area, it ranks in the top 7% of homes in Minnetonka and the top 3% city-wide, offering significantly more interior space than typical area homes. This is complemented by a large, private lot of 8,596 sqft, which is in the top 9% city-wide. Built in 1978, the property is well-established within its neighbourhood context. With an assessed value of $580,000, it sits above average for its immediate street, the broader Minnetonka area, and Winnipeg as a whole, indicating a strong and recognized valuation.
This property would ideally suit buyers who prioritize space—both indoors and outdoors—over a brand-new build. It’s a fit for growing families seeking room to spread out, or for those who value a larger yard for gardening, recreation, or future projects. The home’s established nature and strong rankings suggest a solid, premium offering within its community, appealing to buyers looking for a long-term home in a mature neighbourhood without compromising on square footage.
Frequently Asked Questions
How does the home’s age affect its value and potential?
Built in 1978, the home is of an age where major systems like roofing, windows, or plumbing may have been updated or could be nearing their lifespan. This presents both a known, stable character and a clear opportunity for buyers to modernize interiors to their personal taste, potentially adding value.
Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $580,000 is a strong benchmark for municipal taxation, but market conditions ultimately determine sale price. Its ranking in the top 13% for the area suggests it is a premium property, but recent comparable sales and current buyer demand will be the final arbiters.
What does the lot size mean for practical use?
At nearly 8,600 sqft, the lot is a significant asset. Beyond gardening, it offers potential for additions like a sizable deck, a play structure, or even a future auxiliary building (subject to bylaws), providing flexibility that smaller lots do not.
The home last sold between $500k-$550k in 2020. What does that history suggest?
The prior sale price provides context for the property’s appreciation trajectory. Comparing it to the current $580k assessment can help gauge market movement, but it’s essential to consider any improvements made to the home since 2020 that would justify increased value.
How does this home truly compare to others on the street?
The data shows it has the top assessed value on Areisa Bay and the second-largest living area and lot size among 8 comparable homes. This indicates it is one of the leading properties on the street, likely offering a premium position or features within this specific micro-neighbourhood.