54 Monaco Bay

54 Monaco Bay – Property Summary

Key Characteristics & Buyer Profile

This is a 1,042 sqft home built in 1961, sitting on a 5,381 sqft lot in Winnipeg’s Windsor Park neighbourhood. Its assessed value is $322,000.

The property’s strongest feature is its relative affordability. On Monaco Bay, it ranks near the bottom for assessed value (47th out of 48 homes), meaning it’s one of the more budget-friendly options on the street. The living area is close to the street and neighbourhood averages, so you’re not sacrificing much interior space for the lower price.

What stands out less obviously is the land-to-value ratio. The lot is smaller than most on the street (ranking 47th out of 48 for land area), but the home’s value is also lower—so the price per square foot of land may be more reasonable than it first appears. This could appeal to buyers who want a lower entry point in a stable area without paying a premium for a large yard they may not need.

The home is older but not unusually so for the neighbourhood. The year built is typical for the street and area, and the citywide average is only slightly newer. That suggests the surrounding homes are of a similar vintage, which can mean fewer surprises about neighbourhood character or infrastructure age.

This property would suit first-time buyers or those looking for a more accessible price point in a well-established neighbourhood. It may also appeal to investors seeking a lower-cost entry in an area where the spread between assessed values and city averages suggests potential for gradual appreciation. It’s less suited for someone who prioritizes a large lot or wants a home that stands out in size or condition compared to its neighbours.

Five Possible FAQs

1. Why is the assessed value so much lower than the street average?
The home ranks 47th out of 48 homes on Monaco Bay for assessed value. This likely reflects a combination of the smaller lot size (also near the bottom of the street) and possibly less recent renovation or updating compared to neighbours. The home’s living area is close to average, so the value difference comes more from the land and overall condition than from square footage.

2. Is the small lot a disadvantage?
Not necessarily. A 5,381 sqft lot is still a typical suburban size in Winnipeg. It’s smaller than the street average of 5,906 sqft, but the difference is modest. For buyers who prefer less yard maintenance or want a more compact property, this could actually be a benefit. The lower land area also contributes to the lower purchase price.

3. How does this home compare to others in Windsor Park?
In the neighbourhood, it ranks in the bottom third for both assessed value and land area, but right around average for living space and year built. So it’s a typical-sized home on a smaller-than-average lot, priced accordingly. It’s not an outlier in any extreme way—just a more affordable option within the area.

4. What should I look for given the 1961 build year?
Homes from this era often have original mechanical systems (furnace, electrical, plumbing) and may need updates. The good news is that many surrounding homes are from the same period, so local contractors and inspectors are familiar with the construction style. Check the age of the roof, windows, and foundation—these are common areas for mid-century homes.

5. Could this property be a good rental investment?
Potentially, yes. The lower purchase price means a lower barrier to entry, and the neighbourhood is established with stable demand. However, the below-average land area and assessed value may limit how much you can raise the rent compared to larger neighbouring properties. The return would depend more on the condition of the interior and how much work you’re willing to put in.