Property Overview: 82 Blue Lake Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This well-maintained 1,156 sqft bungalow, built in 1978, presents a compelling opportunity in the Waverley Heights neighborhood. Its primary appeal lies in its strong standing within its immediate community on Blue Lake Bay. The home boasts an above-average living area for the street and a notably high assessed value ranking (2nd out of 22 homes), suggesting it is one of the more substantial and desirable properties on this specific block. This creates a value proposition: you're acquiring a top-tier home on its street, yet its assessed value sits below the broader neighborhood average, which could indicate room for equity growth.
The property suits practical buyers seeking a move-in ready home in an established area without the premium often attached to newer builds. It’s ideal for first-time buyers, downsizers, or investors looking for a stable asset in a mature community. A thoughtful perspective is the lot size: while the land area is smaller than most in the city and neighborhood, this translates to lower maintenance—a significant appeal for those seeking a manageable yard without sacrificing interior space. The data suggests you are buying the home itself, not the land, making it efficient for living rather than extensive outdoor projects.
Section 2: Frequently Asked Questions
1. Is the assessed value a reliable indicator of the listing price?
Not directly. The assessed value of $339k is for municipal tax purposes and shows this home is highly rated on its street. The actual market price will be influenced by current conditions, home updates, and seller motivation.
2. How does the smaller lot size impact the property?
The lot is compact relative to the neighborhood and city. This means less yard maintenance and lower property tax implications related to land value, but it also limits potential for expansions like large additions or pools. It emphasizes the home as a cozy, efficient footprint.
3. The home was built in 1978. What should I be aware of?
While the build year is average for the area, a home of this age may have had key systems (roof, windows, furnace, electrical) updated. An inspection is crucial to determine the condition and age of these major components.
4. What does it mean that the home ranks so high on its street but lower in the wider neighborhood?
It indicates Blue Lake Bay is a street of relatively modest, similar homes. This property is one of the best on that street. The lower neighborhood ranking primarily reflects the lot size and potentially more modest finishes compared to larger, premium homes in other parts of Waverley Heights.
5. Who is this home likely not suited for?
It may not suit buyers prioritizing a large, private yard, those seeking a brand-new build, or anyone looking for a home that significantly outperforms the average in its wider neighborhood. It’s a solid, above-average home on a specific desirable street.