67 Furness Bay

Property Summary: 67 Furness Bay, River Park South, Winnipeg

Section 1: Key Characteristics & Appeal

This 1986 bungalow in River Park South presents a specific value proposition. Its key characteristic is its modest 870 sqft living area, which is notably below average for its street, neighborhood, and the city. However, this is balanced by a city-average assessed value of approximately $381k, suggesting the price reflects the home's size. The lot is a standard suburban size at just over 5,000 sqft.

The appeal lies in its efficiency and potential entry point into a well-established neighborhood. It suits first-time buyers or downsizers seeking a lower-maintenance, single-story home without a premium price tag. A thoughtful perspective is that, while the home is the smallest on its street, it is also the newest (ranked #1 for year built on Furness Bay), which may appeal to those wanting a slightly newer build within an older area. It represents a practical, no-frills option where you're paying primarily for location and land, with the house itself offering a compact footprint.

Section 2: Frequently Asked Questions

1. Is this home priced fairly for its size?
The data suggests it is aligned with the Winnipeg market average for comparable homes. While it's valued below the average for its specific street and neighborhood, this is directly correlated to its below-average square footage, indicating the assessment accounts for the smaller living space.

2. What does it mean that it's the "newest" home on the street?
Built in 1986, it is the most recently constructed house on Furness Bay. This could imply slightly newer building materials, systems, or layout trends compared to immediate neighbors, potentially reducing immediate major renovation needs.

3. How does the last sold price (2020) compare to the current assessed value?
The home sold for an estimated $300k-$350k in late 2020. The current assessed value of $381k reflects market changes over the subsequent years, showing appreciation that is generally consistent with broader market trends in that period.

4. Who might this property not suit?
It is likely not a fit for buyers needing multiple bedrooms, dedicated home office space, or ample room for a growing family, given its below-average living area. Those prioritizing interior space over location may find better value elsewhere.

5. What are the immediate neighboring properties like?
The direct neighbors on Furness Bay and nearby streets are typically similar bungalows from the mid-1980s, but most have significantly larger living areas (averaging 1,425 sqft on this street). This indicates you would be in a stable, established area where this property is an outlier in size, not in character.