Property Overview
This home at 229 Kisil Bay in Winnipeg's Munroe East neighbourhood presents a specific and practical value proposition. Built in 1970, it is a 1,056 sqft house on a 4,029 sqft lot. Its appeal is rooted in its position as a relatively spacious and newer home within its immediate area, coupled with a notably low municipal assessed value. This combination suggests a property that may offer more interior space for the dollar compared to many nearby homes, but likely requires consideration of its condition and potential updates.
The home would suit practical, value-conscious buyers such as first-time homeowners or investors looking for a footprint larger than typical city condos or newer infill properties. It's particularly relevant for someone prioritizing interior space over a large yard within a mature neighbourhood. A less obvious perspective is that its "Elite" ranking for year built on its street indicates it might be one of the most modern structures in that specific block, potentially meaning fewer immediate concerns with outdated building materials common to earlier eras.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Municipal assessed value is used for tax purposes and is not market value. A low assessment often reflects the home's age, condition, and features relative to newer or renovated homes city-wide. It can result in lower property taxes, which is a financial positive, but buyers should base their offer on recent comparable sales and a professional appraisal.
2. How does the living area compare to nearby homes?
The living area is above average for both Kisil Bay and the broader Munroe East area. This means you are likely getting more interior space than many neighbours, which is a key advantage. However, city-wide, it is around average, providing a balanced sense of scale.
3. What does the "Elite" ranking for year built mean?
On Kisil Bay, this home is ranked 1 out of 34 for its year built (1970). This simply means it is one of the newest houses on that specific street. It doesn't imply luxury, but rather suggests it may have a construction era newer than many direct neighbours.
4. What is the likely price range based on past sales?
The home sold between $150,000 and $200,000 in 2018. The current market value will depend on market conditions, any changes made to the property since then, and its present condition. This historical data provides a baseline, but a current market evaluation is essential.
5. Is the lot size a limitation?
At just over 4,000 sqft, the lot is around average for the street but below average for the area and city. This means outdoor space is adequate but not expansive. It suits those who prefer lower yard maintenance but may not be ideal for those wanting extensive gardening, privacy, or room for large additions.