Property Overview: 82 Rizzuto Bay, Mission Gardens, Winnipeg
Key Characteristics & Appeal
This home at 82 Rizzuto Bay is a practical, late-1970s bungalow in Winnipeg's Mission Gardens neighbourhood. With 868 square feet of living space on a 5,098 sqft lot, it presents a compact and manageable footprint. The data indicates its size is below average for its immediate street and the broader area, which translates to lower utility costs and less maintenance—a key characteristic for certain buyers.
Its primary appeal lies in its value positioning. The home's assessed value is notably below the averages for its street and neighbourhood, suggesting a potentially accessible entry point into the market. Recent sale history shows appreciation, with the 2023 sale price range exceeding the 2018 sale, indicating steady demand. The lot size, while not the largest on the street, is near the average for the wider Mission Gardens area, offering balanced outdoor space.
This property would best suit first-time buyers or downsizers seeking a straightforward, single-level home without the upkeep of a larger property. It’s also a sensible candidate for value-focused investors or buyers who prioritize location within a established neighbourhood over sheer square footage. A less obvious perspective is that a home with below-average assessments for its immediate area can sometimes offer more flexibility for future value-adding improvements, provided the structure is sound.
Frequently Asked Questions
1. Is this a small house?
Yes, at 868 sqft, the living area is below the average for both Mission Gardens and the city overall. It's a compact bungalow suited for efficient living.
2. How does the assessed value affect property taxes?
A lower assessed value generally correlates with lower property taxes. This home's assessment is below the averages for its street and neighbourhood, which is a positive for ongoing holding costs.
3. What does the sale history tell us?
The home sold in 2018 and again in 2023 within the $250k-$350k range, with the later sale at a higher price bracket. This suggests stable or increasing market value over that five-year period.
4. How does the lot size compare?
The 5,098 sqft lot is smaller than most on Rizzuto Bay but is very close to the average lot size for the wider Mission Gardens neighbourhood, offering a typical amount of outdoor space for the area.
5. You mention "value-adding improvements." What does that mean?
Because key metrics like living area and assessed value are below local averages, a well-planned renovation or addition could bring the property more in line with neighbourhood norms, potentially increasing its value. This depends entirely on the home's current condition and renovation budget.