Property Overview
This home at 52 George Lawrence Bay in Winnipeg's Mission Gardens neighborhood presents a practical and straightforward opportunity. Built in 2005, it's a relatively modern property in a city with many older homes. With 961 square feet of living space, it is notably compact compared to local averages, suggesting a manageable layout. The lot size of just over 5,000 square feet is consistent with the area. The home last sold between $400,000 and $450,000 in 2022, and its current assessed value is around $40,000—a figure that reflects municipal tax assessment, not market value.
Key Characteristics & Appeal
The primary appeal of this property lies in its modern build year within an established neighborhood, offering a balance of contemporary infrastructure without the premium of a brand-new home. Its below-average square footage makes it a candidate for first-time buyers, downsizers, or investors seeking a lower-maintenance property. The lot size is typical for the street, providing adequate outdoor space without being burdensome.
A thoughtful perspective is that this home represents a "middle-of-the-road" option in its immediate vicinity. It doesn't rank at the top for size or value on its street, but it also isn't at the bottom, positioning it as a stable, average holding in the area. This can be appealing to a buyer seeking predictability and less competition than a standout property might attract. It would suit a pragmatic buyer who prioritizes a newer build over sheer space and is comfortable with a cozy footprint.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
The assessed value (approximately $40,000) is for municipal tax purposes only and is not an indicator of market value. The market value is better reflected by the 2022 sale price of $400,000-$450,000.
2. How does the living space compare to nearby homes?
At 961 sq ft, the living area is below the average for Mission Gardens (1,162 sq ft) and for the city overall. This indicates a more compact home, which can mean lower utility costs and less upkeep.
3. Is the 2005 build date a significant advantage?
Yes, particularly city-wide. Compared to the Winnipeg average home built in 1966, this property is decades newer, which often suggests updated building standards, younger major systems (like roof and HVAC), and potentially fewer immediate renovation needs.
4. What can the "rankings" tell me about this property?
The rankings show how this home compares to peers. For example, its build year is in the top 23% for the area, a positive. Its living area size ranks in the bottom 27% for the area, highlighting its compact nature. These stats help gauge its relative strengths.
5. How can I find out the exact historical sold price?
The exact sold prices are not publicly displayed. The listing service offers to provide this information manually via email upon request, at no cost and without marketing spam.