Property Overview: 18 Beaupre Bay, Island Lakes, Winnipeg

Key Characteristics & Appeal

This 1986 three-level split home in Island Lakes presents a distinct value proposition. Its key appeal lies in a notable imbalance between its modest physical footprint and its strong assessed value. At 1,055 sqft, the living space is below average for both the immediate street and the Island Lakes neighborhood, which suggests a compact, efficient layout. However, its assessed value ranks in the top 11% on Beaupre Bay, indicating the property is highly valued relative to its direct peers. This points to factors beyond raw square footage driving its worth, such as its renovated basement, desirable amenities (including a pool), and an attached garage.

The home sits on a roughly average-sized lot for the street but a smaller one for the area, emphasizing a low-maintenance yard. Its age is a standout feature—it’s the oldest home on the street, which can mean established landscaping and a proven neighborhood, but also implies a buyer should be mindful of the condition of original components.

This property would suit a practical buyer—perhaps a small household, a first-time buyer, or an investor—who prioritizes financial efficiency and amenities over spaciousness. It’s for someone who sees value in a renovated basement and a private pool within a mature community, and who understands that a higher assessment on a smaller home can reflect desirable, intangible qualities of the specific location and lot.

Frequently Asked Questions

1. Why is the assessed value so high compared to the home's size?
The assessment reflects more than just square footage. It accounts for the renovated basement, the in-ground pool, the attached garage, and the property’s specific position on a desirable bay within Island Lakes. It suggests the municipal assessor sees substantial value in these features and the location.

2. What does it mean that this is the oldest home on the street?
As the first home built on Beaupre Bay (1986), it has the most mature trees and landscaping on the street. While this offers established privacy and curb appeal, a prudent buyer will pay close attention to the condition of major aging components, like the roof, windows, and foundation, which may be original or nearing replacement.

3. How does the recent sold price range compare to the assessment?
The home sold in mid-2024 for a price range very close to its current assessed value. This alignment suggests the assessment is in tune with the current market, and the sale provides a recent, real-world benchmark for its worth.

4. Is the lot size a disadvantage?
At just under 4,500 sqft, the lot is smaller than the Island Lakes average but typical for Beaupre Bay. This is an advantage for those seeking lower outdoor maintenance but could be a limitation for those wanting extensive gardens, large play areas, or future expansions like a sizable deck or addition.

5. Who would this home not be ideal for?
It may not suit a growing family needing abundant bedroom and living space on the main floors, as the layout is compact. It also may not fit buyers who prefer a brand-new, low-maintenance home, given its age, or those who view a swimming pool as a liability rather than a luxury amenity.