Property Overview: 509 Bridgeland Drive N, Bridgwater Forest

Key Characteristics & Appeal

This well-situated two-storey home in Bridgwater Forest offers a compelling blend of space, modern age, and established value. Built in 2011, it strikes a balance between being a relatively newer build while having a settled presence in the community. The standout feature is its generous living space: at 2,290 sqft, it ranks within the top 5% of homes on its street and in Winnipeg for size, appealing to those seeking room to grow without the footprint of a mansion. The property sits on a large 4,632 sqft lot, providing ample outdoor space.

Its appeal lies in its strong performance across key metrics, suggesting a solid investment in a desirable area. The home’s assessed value of $620k ranks highly against most local and city-wide comparisons. Notably, its last sold price in 2022 of $718k significantly exceeds the current assessment, indicating a history of strong market valuation. The home suits move-up buyers or families looking for established, spacious suburban living in a newer neighbourhood. It’s ideal for someone who values a large interior and yard but doesn’t want a renovation project, as the basement exists but is noted as not renovated, presenting a blank canvas for future expansion.

A less obvious perspective is its positioning within the street and neighbourhood rankings. While it excels in size and value, it’s in a newer area where many homes are similar in age, so its "newer than" rankings are more moderate. This suggests a mature lot among peers, with landscaping and trees potentially more developed than in the newest subdivisions.

Frequently Asked Questions

1. How does the current assessed value compare to the likely asking or market price?
The assessed value is $620k, but the home sold for $718k in mid-2022. Market conditions will determine the listing price, but the historical sale suggests the assessment may be conservative, and buyers should be prepared for a potential price above the assessed value.

2. What does "Basement: Yes, not renovated" imply?
It confirms the house has a full basement that is unfinished or partially finished. It’s a functional space for storage or utilities but would require investment to become living space like a rec room or suite, offering future customization potential.

3. The home ranks highly for size, but what about the overall neighbourhood feel?
Rankings show the home is larger than most in Winnipeg, but within Bridgwater Forest itself, it’s in the top 24%. This means it’s a spacious home in a relatively modern, master-planned community where many properties are also newer and of good size, offering a consistent neighbourhood character.

4. Are there any concerns with the 2022 sale price being higher than the current assessment?
Not necessarily. Assessments for taxation purposes often lag behind rapid market shifts. The 2022 sale likely reflected a peak market. The current assessment may represent a post-adjustment valuation, which can be a more stable baseline, but it’s crucial to get a current market appraisal.

5. What is the significance of the lot size ranking?
The land area ranks "better than 61%" on its street, meaning it’s above average but not the largest. For this neighbourhood, it’s a very generous lot. This suggests excellent outdoor space for gardening, play, or entertaining, with more privacy than a zero-lot-line property, but not an estate-sized yard.