Property Overview

55 Laurel Bay is a well-maintained, one-storey home in Winnipeg's Garden City neighborhood. Built in 1969, it features 1,289 sqft of living space, an attached garage, and a renovated basement. The home sits on a 5,775 sqft lot. Its assessed value of $38.10k positions it above average for Garden City, indicating strong value retention in the area. Recent sales data shows it sold in mid-2024.

Key Characteristics & Appeal

This home’s primary appeal lies in its balance of updates and established neighborhood character. The renovated basement adds modern, functional space, a significant advantage over many homes of this vintage. While the living area is average for the street and city, the property’s assessed value is notably strong for Garden City, suggesting it is viewed favorably within the local market context.

The lot size is smaller than many immediate neighbors, which can mean less yard maintenance—a practical perk for some buyers. Its age places it among the newer homes in Garden City, potentially implying fewer major age-related issues compared to area averages.

This property would suit first-time buyers or downsizers looking for a move-in-ready home with a modernized lower level in a stable North Winnipeg community. It’s also a practical fit for those who prefer single-level living and value the convenience of an attached garage.

Frequently Asked Questions

1. How does the lot size impact the property?
At 5,775 sqft, the lot is smaller than many on the street and in the area. This typically means less outdoor maintenance, but it may also limit expansion possibilities or the size of private outdoor spaces.

2. What does the "above average" assessed value for Garden City indicate?
An assessed value ranking in the top 19% for the neighborhood suggests the property is considered to have higher value than most comparable homes here, which can be a positive indicator for municipal valuation and potential equity, though market price is determined by buyers.

3. Is the renovated basement a full suite?
The listing notes a renovated basement but does not specify if it is a legal suite with a separate entrance. Buyers should verify the renovation permits and the basement's specific layout and compliance.

4. How recent was the last sale, and what does that mean?
The home sold in June 2024. A recent sale means there is very current market price data available (in a range), which provides a clear benchmark for the home’s recent market value.

5. Are properties on this street similar in age and size?
Yes. The data shows the average year built on Laurel Bay is 1969, making this home typical for the street. Its living area is also very close to the street average, so it fits the general character of the block.