Property Overview
162 Marine Drive is a well-established, modern home in Winnipeg's Normand Park neighbourhood. Built in 2010, it offers 2,191 sqft of living space on a 6,247 sqft lot, with a municipal assessed value of $725,000. The home presents a compelling mix of city-wide appeal and neighbourhood-specific context.
Key Characteristics & Appeal
This property’s primary strength is its position as a spacious, modern home within the broader Winnipeg market. With living space ranking in the top 7% city-wide and an assessed value in the elite top 3%, it offers substantial room and perceived value compared to the average Winnipeg home. Its 2010 build date places it well above the city's average, suggesting newer construction standards and potentially lower immediate maintenance costs.
The appeal here is nuanced. While the home is exceptional on a city scale, it sits as a more modest, competitively priced option within its own desirable street and neighbourhood. On Marine Drive, its lot size and assessed value are below and around average, respectively, indicating it may be one of the more accessible entry points to this specific block. This creates an opportunity for buyers seeking the prestige and location of Normand Park and Marine Drive without the premium price tag of the largest estates on the street. It would particularly suit move-up buyers from smaller city homes who desire modern space and a prime neighbourhood, or value-conscious buyers who prioritize the neighbourhood community over having the biggest property on the block.
Frequently Asked Questions
1. How does this home’s value compare to others in the area?
The home’s $725k assessment is above average for Normand Park but around average for Marine Drive itself. This suggests you are paying for a solid home in a prime location, not necessarily for the largest or highest-valued property on the street.
2. Is the lot size a disadvantage?
At 6,247 sqft, the lot is slightly below the average for Marine Drive but is very typical for Normand Park and above the city average. It provides ample backyard space for most families while possibly requiring less maintenance than larger lots on the street.
3. What does the sold history indicate?
The home sold in 2017 for between $750,000 and $800,000. Its current assessed value of $725k is reasonably aligned with that past sale, suggesting stable value in the area.
4. Who might this property not suit?
Buyers seeking the absolute largest lot or most premium home on Marine Drive may find better options. It’s best for those who value the location and a modern, spacious home over having the top-tier property in the immediate vicinity.
5. How modern is a 2010 build?
Built 16 years ago, the home is well above the city’s average age (1966) and is relatively modern for Winnipeg. Major components like the roof, HVAC, and windows are likely still in good condition but are entering a period where eventual replacement should be factored into long-term planning.