Property Overview: 2 Gauvreau Road, Island Lakes, Winnipeg

Key Characteristics & Appeal

This 1,308 sqft four-level split home, built in 1985, sits on a 4,714 sqft lot in Winnipeg's Island Lakes neighbourhood. Its core appeal lies in being a solid, average-sized home in a well-established area, offering a practical entry point into the market. The renovated basement adds functional living space. While its assessed value is below average for its immediate street and neighbourhood, it is squarely around the city-wide average, suggesting it represents a typical Winnipeg home in terms of municipal valuation.

This property would suit first-time buyers or practical downsizers looking for a no-frills, manageable home in a mature community. Its size and layout work well for small families or those who don't require extensive square footage. A thoughtful perspective for buyers is to see the below-average assessment for the area not just as a lack of premium features, but as a potential opportunity for a relatively lower property tax burden compared to neighbouring homes, while still providing the benefits of the Island Lakes location.

Frequently Asked Questions

1. How does this home's size compare to others?
At 1,308 sqft, the living area is slightly below the average for Island Lakes but is very close to the average home size across the entire city of Winnipeg.

2. Why is the assessed value lower than other homes on the street?
The assessed value of $351,000 is the lowest among the 13 homes on Gauvreau Road. This typically reflects factors like the home's age, specific lot characteristics, and the interior condition or features relative to its neighbours at the time of assessment.

3. What does the sold price history indicate?
The home sold previously in 2016 and again in 2023. The 2023 sale price range shows a significant increase over the 2016 price, consistent with broader market trends over that period.

4. Is the lot size a constraint?
The lot is under 5,000 sqft, which is below average for Island Lakes but close to the average for Winnipeg overall. It provides a decent backyard space for a home of this size but may not accommodate extensive additions or large outdoor structures.

5. The home was built in 1985. What should I consider?
As a home approaching 40 years old, a thorough inspection is crucial. While the basement is noted as renovated, core components like the roof, windows, furnace, and plumbing may be at or beyond their typical lifespans and should be budgeted for.