Property Overview: 146 Southwalk Bay, River Park South, Winnipeg
Key Characteristics & Appeal
This home presents a solid, mid-sized option in the established River Park South neighborhood. Built in 1981, its 1,090 sqft living area and $411k assessed value are consistently "around average" when compared to its immediate street, the wider neighborhood, and the city of Winnipeg. This consistency suggests the property is a typical representation of its area, not an outlier, which can be reassuring for value stability.
The appeal lies in its predictability and established community. The lot, at 4,300 sqft, is smaller than many on its street, which may translate to less yard maintenance—a potential plus for busy professionals or those seeking a lock-and-leave lifestyle. A notable point is that it is one of the original homes on Southwalk Bay, as indicated by its "elite" ranking for year built on the street. This can imply a well-understood neighborhood character and mature landscaping.
This property would best suit first-time buyers or downsizers looking for a manageable, no-surprises home in a mature suburban setting. It’s for buyers who prioritize location and community establishment over a large lot or a newly built home, and who appreciate a house that aligns closely with area norms for both size and value.
Frequently Asked Questions
1. Is the smaller lot size a disadvantage?
It depends on your lifestyle. While below the street average, the 4,300 sqft lot requires less maintenance and landscaping work. It could be an advantage for those with limited time or who prefer a more compact outdoor space.
2. How does the 1981 build year affect the home?
As one of the first homes on the street, major systems and the structure itself are over 40 years old. Prospective buyers should budget for potential updates to roofing, windows, or mechanical systems, which is typical for homes of this age. A thorough inspection is advised.
3. The assessed value seems high compared to the city average. Why?
The city-wide average assessed value for comparable homes is lower ($390.1k), but this property is in River Park South, where neighborhood averages are higher. Its assessment aligns closely with the specific street average ($409.9k), reflecting its value within this particular, established community.
4. What does the sold price history tell us?
The home sold between $400k-$450k in late 2024, and previously between $300k-$350k in late 2020. This indicates significant appreciation over that four-year period, consistent with broader market trends. The final sale price was close to its current assessed value.
5. How does the living space compare to nearby homes?
At 1,090 sqft, it is smaller than many direct neighbors (e.g., 130 Southwalk Bay at 1,620 sqft). This makes it a more affordable entry point into the same street and may result in lower utility costs, but it also means less interior space than other options in the immediate area.