Property Overview: 16 Brian Monkman Bay, Island Lakes, Winnipeg

Key Characteristics & Buyer Appeal

This home is a well-positioned, established property in the Island Lakes neighbourhood. Built in 2004, it is newer than most homes in Winnipeg and is among the newest on its street, suggesting modern construction standards and potentially fewer immediate major repairs. The 1,698 sqft living space is comfortably above the city average, offering ample room for a family, while its assessed value is consistent with the local area. A key feature is the renovated basement, which adds functional living space. The property sits on a 4,328 sqft lot, which is more compact than many in Island Lakes but offers manageable outdoor maintenance.

Its appeal lies in its balance. It doesn’t top the charts in any single category but presents a solid, above-city-average package in a desirable neighbourhood. It suits practical buyers—perhaps growing families or professionals—who value a move-in-ready home (thanks to the basement renovation) in a mature community, without the premium or unpredictability of a brand-new build. It’s a home for those who prioritize a sensible, long-term purchase over a standout luxury statement or a fixer-upper project.

Frequently Asked Questions

1. How does the lot size impact this property?
While the land area is smaller than the Island Lakes average, it is close to the citywide norm. This means less yard maintenance but also less private outdoor space compared to some direct neighbours. It’s a trade-off that may appeal to those seeking a lower-maintenance lifestyle.

2. What does the "above average" year built mean for me?
Being built in 2004 places this home in a sweet spot. It’s new enough that major components like the roof, windows, and HVAC are likely still within or approaching their typical lifespan, but old enough that any initial construction issues would have likely surfaced and been addressed. It may avoid the immediate high costs of an older home while being past its "brand-new" phase.

3. The assessed value seems low. Is that the selling price?
No. The assessed value (approximately $51k) is for municipal tax purposes only and is not an indicator of market value or selling price. Market value is determined by recent sales of comparable homes, buyer demand, and the current market.

4. What are the implications of the renovated basement?
A renovated basement adds immediate liveable square footage, which is a significant value-add. Prospective buyers should inquire about the quality of the renovation, whether permits were obtained, and how the space is configured (e.g., additional bedroom, family room, suite potential) to understand its full utility.

5. How does this home rank within its immediate area?
The data shows this home is consistently around the average for Brian Monkman Bay and the wider Island Lakes area in terms of size and value. This suggests it is a very typical home for the neighbourhood, which can provide stability and make future valuations more predictable compared to a home that is an outlier in size or condition.