Property Overview: 50 Southwalk Bay, River Park South, Winnipeg
Key Characteristics & Appeal
This home presents a compelling blend of space, value, and potential. Its most standout feature is the land: at nearly 10,000 sqft, the lot size is exceptional, ranking in the top 2% on its street and top 4% in the River Park South neighborhood. This offers rare outdoor space for gardening, recreation, or future expansion in a mature area.
The 1,359 sqft living area is consistently average for its street, neighborhood, and city, indicating a comfortable, typical family layout. With an assessed value of $445k, it sits above average for its street and city, suggesting perceived quality or desirable attributes not fully captured by square footage alone. Built in 1979, it is older than most in its immediate area, which may appeal to buyers interested in the established character of older builds but should factor in potential maintenance or update considerations.
The appeal lies in this balance. It suits buyers seeking a generously sized lot in a stable neighborhood without a premium for an oversized house. It’s ideal for those who value private outdoor space over a brand-new build, and for owner-occupants or investors who see potential in the land itself. The above-average assessment relative to nearby sales history hints at solid underlying value.
Frequently Asked Questions
1. Is the lot size truly unusual for the area?
Yes. The property’s lot is approximately 82% larger than the street average and 80% larger than the neighborhood average, making it a significant outlier and a key asset.
2. The home was built in 1979. Should I be concerned about major systems?
Given its age, a thorough inspection of the roof, foundation, plumbing, electrical, and heating systems is essential. Its older vintage compared to neighbors means updates may have been made; verifying the age and condition of these major components is a crucial step.
3. The assessed value seems high compared to the last sold price in 2016. Why?
The assessed value is a municipal valuation for tax purposes and can reflect market trends, improvements, or re-assessments. It indicates the city’s view of its current worth relative to other properties, but the true market value is determined by current buyer demand.
4. What does "around average" living area mean for daily life?
It means the home’s interior size is typical for the community—neither cramped nor expansive. It should comfortably accommodate standard furniture layouts and family needs, similar to most homes you’ll see in the area, but won’t offer unusually large rooms.
5. How can I get the exact historical sale price?
The site provides estimated sale price ranges. Due to industry regulations, exact sale figures from the MLS are not published here. You can request the exact sold price history via email through the provided button for a manual lookup.