Property Overview: 3 Southwalk Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 3 Southwalk Bay is a compact, single-family property built in 1979. With 915 square feet of living space on a 4,342 sqft lot, its key characteristic is its more modest scale compared to many homes in the immediate area. The appeal lies in its position as a potentially more accessible entry point into the established River Park South neighborhood. Its assessed value of $361k is notably below the street and neighborhood averages, yet aligns closely with the Winnipeg citywide average, suggesting it offers relative value within a desirable context.
This property would suit first-time buyers or downsizers seeking lower maintenance and a manageable footprint without leaving a mature community. It also presents a practical opportunity for investors or handy buyers looking for a home with renovation potential, where the below-average size and value for the street could be leveraged for future equity growth. A thoughtful perspective is that while it ranks below its immediate peers in metrics like size, this can translate to lower utility costs and property taxes, offering a different kind of value for the right owner.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales?
According to available data, the home sold between $300k-$350k in February 2021. Its current assessed value of $361k is above that sale range but sits below the average for both Southwalk Bay and River Park South.
2. Is the living area significantly smaller than nearby homes?
Yes. At 915 sqft, the living area is below the average for the street (1,345 sqft), the neighborhood (1,410 sqft), and slightly below the citywide average. This confirms it is a more compact home in its immediate context.
3. What does the “around average” citywide ranking for value mean?
While the home’s value is below average for its specific street and neighborhood, it ranks near the middle (Top 50%) when compared to all similar homes across Winnipeg. This indicates you are paying a premium for the location within the city, but potentially getting a price advantage within that specific location.
4. How can I verify the exact historical sale price?
The site provides sold price ranges for general reference. To obtain fully verified, exact sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS.
5. Are the comparable homes listed truly similar?
The listed nearby and similarly-valued properties provide context, but direct comparisons should be made cautiously. For example, while some have similar assessed values, they often have significantly more living space, highlighting that 3 Southwalk Bay’s value is primarily in its land and location rather than its interior size.