Property Overview: 121 George Suttie Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 121 George Suttie Bay presents a specific and practical value proposition. Built in 1970, it is actually newer than many of its immediate neighbours and area comparables, which can be a positive for systems and structure. The key figures are straightforward: a 696 sqft living space on a 3,900 sqft lot, with a notably low municipal assessed value of $23,200.
The primary appeal lies in its position as an accessible entry point into the Munroe East neighbourhood. It suits buyers with clear priorities: first-time homeowners seeking minimal property tax exposure, investors looking for a rental property with a lower cost basis, or downsizers wanting a compact, low-maintenance footprint. Its very low assessed value relative to the street and city is its most defining characteristic, suggesting it is a modest home in a neighbourhood with potentially higher-valued properties. This creates an opportunity for buyers comfortable with a smaller space who value location and fiscal efficiency over size. A thoughtful perspective is that while the home is smaller than average, its lot size is still functional for a garden or outdoor space, and its newer build year compared to the area might mean fewer immediate major repairs.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Municipal assessments are based on factors like home size, age, condition, and local market values. This home’s compact size and modest characteristics result in an assessment significantly below the Winnipeg average, which translates to lower property taxes.
2. How does the sold price range (2023: $150k-$200k) relate to the assessed value?
Assessed value is for municipal taxation and is not a market appraisal. The sold price reflects what a buyer actually paid in the open market. The previous sale in this range indicates the market price is substantially higher than the tax assessment.
3. What does it mean that the home is "newer" than others on the street?
With a 1970 build, this home ranks in the top 17% on its street for year built. In a neighbourhood with many homes built earlier, this could imply updates to core building materials or systems that are sometimes associated with mid-century construction, though a full inspection is always recommended.
4. Is the living space suitable for a small family?
At 696 sqft, the living area is compact. It is below the average for both the Munroe East area and Winnipeg overall. It would best suit individuals, couples, or those comfortable with efficient, open-concept living.
5. How can I get the exact historical sold price?
The exact sold price is not publicly displayed in detail due to data privacy practices. You can request it directly via the email link provided on the listing page; the service aims to provide the accurate figure manually by the end of the same business day.