Property score
87.6
Excellent
Overall 87.6 · Larger but older than most nearby homes
2,429 sqft (top 1%) · Built in 1986 (9 yrs older than avg)
Located in a high-income area with median household income of ~106k
Transit 82.0 · 2-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, and 2 parks nearby
Living Area
Above average
49% larger than neighborhood avg.
Year Built
Below average
9 yrs older than neighborhood avg.
Mother tongue
English · 71%French · 5%
Past 10 years Island Lakes sales snapshot (~80% of all data)
654
580k
$348/sqft
1995
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87.6 is composed by the two sections below.
Property Score
Community Score
Island Lakes
How to read: Share of sales in each ~$50k price band for “island lakes” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110514
$106K
Median household income
$129K
Average household income
8%
Low income (LIM-AT)
0.3
Income inequality (Gini)
3.8
P90 / P10 ratio
18%
Single-person households
31%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
22 Waterfront Road — 3 amenities found within 500 m, across 2 categories, including 1 dining (nearest 232 m), 2 parks (nearest 192 m).
Island Lakes · WPS public data · 2026
Annual incidents
3
2026
vs. city avg
-90%
relative to avg
Year-over-year
▼ -97%
vs. prior year
Primary type
Violent
67%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Top 20% | Top 11% | Top 9% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 22 Waterfront Road, Island Lakes
Key Characteristics & Appeal
This two-storey home in Island Lakes stands out for its generous proportions, both in the home itself and on the lot. With over 2,400 square feet of living space, it ranks in the top tier for size compared to most homes on its street, in the neighbourhood, and across Winnipeg. The property’s most distinctive feature is its large, 15,000+ square foot lot, which is exceptionally spacious for the area—roughly double the size of many neighbouring properties. This offers significant privacy and room for outdoor living, gardens, or expansion.
The home’s appeal lies in this rare combination of a large, renovated basement and a vast, premium lot in a well-established neighbourhood. It suits buyers looking for ample indoor and outdoor space without moving to a rural area. It would particularly fit growing families seeking room to spread out, or those who value gardening, entertaining, and the potential that a sizable yard provides. A thoughtful perspective is that while the home was built in the 1980s, its lot size is a permanent, appreciating asset that newer subdivisions rarely offer, making it a long-term investment in space and privacy.
Frequently Asked Questions
1. Why is the assessed value notably higher than many area averages?
The assessed value reflects the property’s above-average living area, its fully renovated basement, and, most significantly, its very large lot size. These premium characteristics place it in a higher valuation tier.
2. What does the "Elite" ranking for land area mean practically?
It means this property’s lot is among the largest 2-4% of homes in its comparison groups. Practically, you have more privacy, fewer neighbours in direct sightlines, and more flexibility for landscaping, adding a structure like a shed or gazebo, or simply enjoying expansive green space.
3. The home was built in 1986. What should I consider?
While the structure is nearly 40 years old, the basement has been renovated. A pre-purchase inspection is especially important to assess the condition of major aging components, like the roof, windows, and plumbing, which may be due for updates or replacement.
4. There is no garage. Is adding one feasible?
Given the substantial lot size, there is likely physical space to add a garage or carport. You would need to investigate specific setback requirements, utility lines, and obtain the necessary permits from the city.
5. How does the last sold price range compare to the current assessed value?
The home sold in early 2021. The current assessed value is higher, which is common given the strong market trends of recent years and the value placed on the home’s generous lot size. The assessed value is used for tax purposes, while market value is determined by what a buyer is willing to pay in the current market.
