45 Almond Bay

Property Summary: 45 Almond Bay

Section 1: Key Characteristics & Buyer Profile

This home is a compact, post-war bungalow with a living area of 775 square feet, sitting on a 4,999-square-foot lot in Winnipeg’s Windsor Park neighbourhood. Its most notable feature is the year built: 1958, which ranks as the oldest home on its street and is early for the neighbourhood. The assessed value sits at $296k, which is notably below both the street and neighbourhood averages.

The appeal here is straightforward: it is an entry-level price point in a stable, established area, on a lot that offers more space than the house itself. The home’s small footprint means lower utility costs and simpler maintenance, but the lot size leaves room for future expansion, a garage, or a significant garden. Because the house is older and the living area ranks well below city averages, the value is in the land and location—not the finishes. This property suits a first-time buyer willing to do cosmetic updates, a downsizer who prioritizes a low-maintenance interior and a good yard, or an investor looking for a teardown or major renovation candidate on a decent lot.

Section 2: Five Possible FAQs

1. How does the property compare to others in Windsor Park?
   The house is well below average for its neighbourhood in both living area (ranked 3,243 out of 3,307) and assessed value (ranked 3,090 out of 3,307). The lot size is also below the neighbourhood average (5,571 sqft vs. 6,030 sqft), but the year built is around the middle of the pack. Essentially, you’re buying into the area at a low price point, but you won’t get as much house or yard as most neighbours have.

2. What does the low assessed value mean practically?
   A $296k assessed value typically translates to lower annual property taxes compared to the neighbourhood norm. It also suggests the home hasn't been extensively renovated or expanded in recent years. For a buyer, this can mean lower carrying costs and a purchase price that reflects the home's original condition. It does not inherently mean the home is in poor shape—only that its formal valuation is conservative.

3. Is the small living area a dealbreaker or an opportunity?
   It depends on your needs. At 775 sqft, the layout is likely tight by modern suburban standards. However, the lot is a full 5,000 sqft, which gives room for a future addition if you need more space. For someone who doesn’t need extra square footage, this small footprint means lower heating, cooling, and renovation costs. It’s a trade-off between manageable size and limited interior flexibility.

4. Why is the year built ranked so high if it’s an older home?
   The data shows the property ranks #1 on the street (Top 3%) because it is the oldest house on Almond Bay—every other home on that street is newer. In the wider Windsor Park neighbourhood, it still ranks in the top 64% for age, meaning a good portion of homes here are even newer. Being the oldest can be a positive for someone seeking character or a solid mid-century foundation, but it also means you should expect mechanical systems that may be near the end of their service life.

5. Would this property work for a family or as a rental?
   As a family home, the 775 sqft is tight for more than two people unless you add on. The lot size and location could work well for a rental, particularly if you keep costs low and rent to a small household or a couple. The assessed value suggests potential for cash-flow positive ownership if purchased near that price point. However, the below-average rankings for size and value also mean it may not appreciate as quickly as larger, more updated homes in Windsor Park.