Key Characteristics & Buyer Profile
This is a 1,197 sqft single-family home at 3 Cypress Bay, built in 1958, on a 5,998 sqft lot in Winnipeg's Windsor Park neighbourhood. Its key appeal lies in strong value relative to the immediate community. While the house is slightly smaller and older than the average on its own street—where newer, larger homes push the median higher—it stands out within Windsor Park itself. There, it ranks in the top 18% for living area and top 24% for assessed value, meaning you're getting more house for the money compared to many nearby properties. The assessed value sits at $376,000, which is higher than the neighbourhood median but significantly lower than the Cypress Bay street average of $583,000.
This property would suit a buyer who values a solid, mid-sized lot in an established neighbourhood and is willing to look past a mid-century build date. It's less suited for someone seeking a turnkey modern home or a premium street address. The sweet spot is a buyer who wants more interior space than typical for Windsor Park, without paying a premium tied to the newer, larger homes on the same street.
Five Possible FAQs
1. How does this home's land value compare to other properties nearby?
The lot is 5,998 sqft, which is very close to the Windsor Park average. It's smaller than the Cypress Bay average (7,025 sqft), but that's largely because the street includes some properties with significantly larger parcels. In the broader neighbourhood context, the land is typical.
2. Is the assessed value of $376,000 realistic for this property?
It sits above the Windsor Park median but well below the Cypress Bay street average. This reflects the fact that the home is more competitive within the neighbourhood than on its own street. It's a realistic figure for a property of this age and size in a stable, mid-range community.
3. Why is the street ranking so different from the neighbourhood ranking?
Cypress Bay has larger, newer homes than the Windsor Park average. So this house ranks near the middle of the street but top-fifth in the broader area. It's a case of being modest on a strong street versus being generous in a more typical neighbourhood context.
4. Is a 1958 home a concern for maintenance or renovations?
It's older than the Windsor Park median (1961) and significantly older than the Cypress Bay average (1980). That means systems like wiring, plumbing, and insulation may be original or updated only partially. A buyer should budget for potential upgrades, but the home's core age is consistent with much of the neighbourhood's character.
5. Could this be a good investment property?
Possibly—but more for its land value potential than immediate rental yield. The lot is above average for the city overall, and the assessed value is well below the street average. In an appreciating neighbourhood, a long-term buyer could see gains from the land parcel even if the house itself requires updates.