8 Monaco Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,020 sqft bungalow built in 1962 on a 5,881 sqft lot, located in Windsor Park (Monaco Bay). The assessed value is $348,000.
Where it stands: The home is a modest starter or downsizer property—neither the smallest nor the largest on its street. Living area is slightly below the citywide average for comparable homes (1,342 sqft vs. 1,020 sqft), but land area is around average for the neighbourhood. The assessed value is below the street average ($362.7k) and citywide average ($390.1k), making it a more budget-friendly option relative to nearby properties.
What gives it appeal: The house ranks in the top quartile for age on its street (built 1962, ranked 12th out of 48) and top 26% in the neighbourhood. In a market where many homes are from the 1970s or later, this property represents a well-established era of construction—typically solid framing, larger lots, and mature neighbourhoods. The lot is serviceable but not oversized; it won't feel cramped but also won't demand heavy yard maintenance.
Who it suits: First-time buyers looking for entry-level pricing without sacrificing location. Also practical for buyers who prefer an older, established neighbourhood with mature trees and character, rather than a cookie-cutter subdivision. Downsizers who want a manageable home and yard, with a bit of room to breathe, will also find it fits. It is not ideal for buyers seeking a large or modern floor plan, or those who want a top-tier street ranking—this property is firmly middle-of-the-pack, which is exactly its selling point for pragmatic buyers.
Five Possible FAQs
1. How does the property compare to homes in the broader Winnipeg market?
It is below average in living area (1,020 sqft vs. the citywide average of 1,342 sqft) and assessed value ($348k vs. $390.1k). Land area is average for the city, and the year built is about average for Winnipeg (1962 vs. 1966 citywide). So it's a smaller, more affordable home in an older neighbourhood that isn't unusually large or small on its lot.
2. Is the assessed value accurate and does it reflect market value?
The assessed value of $348,000 is for property tax purposes and may not equal the current market price. It's below both the street average ($362.7k) and neighbourhood average ($354.2k). Buyers should use this as a baseline, not a final price, and compare with recent sales in Windsor Park.
3. What does the "Top 69%" or "Top 83%" ranking mean?
These rankings show how the property compares to other homes in the same category. For example, being ranked #33 out of 48 on the street (Top 69%) means roughly 31% of similar homes on Monaco Bay have a smaller living area, and 69% have a larger one. Lower percentages (closer to 1%) are better; higher percentages mean more homes outrank it.
4. Is the lot size reasonable for a family or someone wanting a garden?
At 5,881 sqft, the lot is around average for the street and neighbourhood (averages are 5,906 sqft and 6,030 sqft, respectively). It's smaller than the citywide average (6,570 sqft), so it won't feel oversized, but it offers enough room for a modest garden, a small shed, or outdoor seating. Not ideal for someone wanting a large yard or space for a pool.
5. What should a buyer look out for with a 1962 home?
Older homes often have solid construction but may need updates to electrical, plumbing, insulation, or roofing. The age ranking (top 25% on the street) suggests it's one of the older homes in the area, so ask about recent renovations, the condition of the foundation, and whether the windows and furnace have been replaced. A home inspection is strongly recommended.