Property Summary: 2 Greenwich Bay
1. Key Characteristics & Buyer Profile
This is a 1,278 sqft home built in 1963 on a 6,248 sqft lot, located in the Windsor Park neighbourhood of Winnipeg. Where this property stands out is in its assessed value and relative position within the immediate street and neighbourhood context. On Greenwich Bay itself, it ranks #1 out of 40 homes for assessed value (top 3%), and well above average for living area (top 13%). Within Windsor Park, it also performs strongly: top 2% for assessed value and top 12% for living area. The lot size is around average for the street and neighbourhood, but slightly above average citywide.
The appeal here is less about sheer size or a brand-new build, and more about relative value concentration. This home sits at the high end of its immediate peer group, which can mean a few things: it may have had significant updates or a well-regarded renovation that the market has priced in, or it simply occupies a desirable position within a stable, consistent block. Buyers should note that while the home compares very well locally, citywide it is only around average for living area and year built (1963 vs. city average of 1966). This suggests the property’s strength is in its specific location and how it fits within that pocket of Windsor Park, not in competing with newer or larger homes across all of Winnipeg.
This property would suit: A buyer who prioritizes a strong value position within a specific, established neighbourhood—someone who wants a home that already ranks well against its immediate neighbours and is likely in a more desirable micro-location on the street. It may also appeal to someone looking for a solidly average lot and living area that offers room for personalization without being overpriced relative to similar nearby homes. It’s less suited for buyers seeking a larger-than-average citywide footprint or a very modern build.
2. Five Possible FAQs
1. The assessed value is very high for the street—does that mean the property taxes will be unusually high?
Probably, yes—assessed value is the primary basis for property taxes. However, since it’s #1 on the street, your neighbours will be paying less on average. It’s worth checking the current mill rate in Winnipeg and estimating taxes based on the $439k assessment. Keep in mind that assessments can change annually, and an appeal is possible if you believe the value is inaccurate.
2. How much does the 1963 build date matter in terms of maintenance?
A 1963 home is now over 60 years old. This means original systems (plumbing, electrical, roof, foundation) may have been updated or may be nearing the end of their lifespan. Ranked #1 on the street for year built suggests it may be newer than some neighbours, but that’s relative—it’s still an older home. Buyers should budget for potential updates, especially if renovations haven’t been recent. A pre-purchase inspection by a specialist familiar with mid-century construction is advisable.
3. The lot size is only around average for the street—does that limit expansion possibilities?
Yes, it does. While the lot is slightly above average citywide (top 26%), it’s middle-of-the-pack on Greenwich Bay (top 48%). That means you have roughly the same outdoor space as many neighbours. Adding a large addition or a detached garage may be more constrained than on a larger lot. However, it also means the street likely has a consistent, established character, which some buyers prefer.
4. What does “elite” status for assessed value really mean in practice?
“Elite” here means the home is in the top 3% of its street and top 2% of its neighbourhood for assessed value. In practical terms, this suggests the home is considered a premium property within its immediate context—likely due to finishes, updates, location within the bay, or curb appeal. It does not mean it’s a luxury home citywide, but rather that it stands out among its closest peers. This can be a double-edged sword: resale may be strong within the neighbourhood, but if the local market softens, higher-valued homes can sometimes take longer to sell.
5. How does this home compare to others in Windsor Park overall?
Very favourably. The home ranks in the top 12% for living area and top 2% for assessed value within Windsor Park. That puts it well above the neighbourhood average for both metrics. The lot size is more typical for the area (top 31%), and the build year is about average (19% newer than some, but close to the neighbourhood average of 1961). So in summary: it’s a standout for value and size within a well-regarded, established neighbourhood, with a typical lot and an older but not unusually old home.