Property Overview
This home at 35 George Lawrence Bay in Winnipeg's Mission Gardens neighborhood presents a specific value proposition. Built in 2005, it sits on a larger-than-average lot for its immediate area while offering a modestly sized living space.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance. The 6,268 sqft lot is notably larger than most in Mission Gardens and on its own street, offering above-average outdoor space and potential. The home itself, at 961 sqft, is compact and efficient, likely appealing to those seeking lower maintenance without sacrificing yard size. Its 2005 build date means it's a relatively modern structure compared to many Winnipeg homes, potentially resulting in fewer immediate major repairs.
Its assessed value is consistently around the average for its various comparison groups, suggesting it is priced squarely within market norms for its type. Recent sale history indicates steady appreciation.
This home would suit first-time buyers or downsizers who prioritize a generous lot over a large interior footprint. It’s for someone who wants a newer build in an established neighborhood and values outdoor space for gardening, pets, or quiet enjoyment, without the upkeep of a much larger house.
Frequently Asked Questions
1. Is the house too small?
At 961 sqft, the living area is below average for the street, neighborhood, and city. It's a compact layout best suited for individuals, couples, or small families who prioritize efficient living and lower utility costs.
2. How does the lot size compare?
The lot is a significant feature. At over 6,200 sqft, it ranks in the top 15% on its street and top 20% in Mission Gardens, offering more private outdoor space than many comparable properties.
3. What does the sale history tell us?
The home sold in 2020 and again in 2023. The price increase between those sales aligns with broader market trends and suggests the property has held its value in a changing market.
4. Is the assessed value a good indicator of market price?
The assessed value ($39.5k for taxation purposes) is not the market price. Market prices are typically much higher, as indicated by the recent sold price ranges of $300k-$450k. The assessment is useful for comparing relative value against similar homes.
5. What are the less obvious things to consider?
Consider that a newer home (2005) on a large lot in an older neighborhood can be a unique find. It may offer modern systems while the mature area provides established trees and community character. However, ensure the specific layout and storage of a smaller, modern floorplan meets your long-term needs.