Property Overview: 3 Wayfarer's Haven, Island Lakes, Winnipeg

Key Characteristics & Appeal

This home is a study in contrasts, offering a practical and updated living space within a well-established neighbourhood. Its key characteristic is a fully renovated basement, adding valuable finished square footage to the 1,423 sqft main living area. Built in 2000, the house benefits from modern construction standards while being past its major initial maintenance period. It features an attached garage and sits on a 4,923 sqft lot.

The appeal lies in its position as a solid, move-in ready property within the desirable Island Lakes community. The renovated basement immediately adds functional space for a family, home office, or recreation room. From a value perspective, its assessed value sits above the Winnipeg city-wide average, suggesting strong fundamental worth, yet it is priced below the averages for its own street and neighbourhood. This creates a potential opportunity for a buyer seeking a well-priced entry into a popular area.

This home would best suit first-time buyers or downsizers looking for a low-maintenance, single-family home without a sprawling yard. It’s also a practical fit for those who prioritize updated interior spaces and an attached garage over having one of the larger lots on the block. It represents a pragmatic choice for someone seeking community amenities and established greenery over a brand-new build.

Frequently Asked Questions

1. Is the lot size a drawback?
While the lot is smaller than many on Wayfarer's Haven and in Island Lakes, it is very close to the city-wide average. This means less yard maintenance, which can be a positive for many buyers, while still providing private outdoor space.

2. How does the assessed value compare to the likely selling price?
The home's assessed value is above the city average but below the neighbourhood average. This can sometimes indicate a property that is undervalued relative to its immediate area, but the final sale price will be determined by the current market.

3. What does the sold price history from 2017 indicate?
The previous sale in 2017 provides a historical benchmark, but it is not a direct indicator of current value. Market conditions, the completed basement renovation, and general appreciation over eight years will significantly influence today’s price.

4. Is the living space sufficient for a growing family?
With 1,423 sqft plus a renovated basement, the total usable space is generous. While the above-ground square footage is modest for the street, the finished basement effectively doubles the functional living area, making it more than adequate for many families.

5. What is the significance of the "rankings" provided?
These rankings show how this property compares to others on its street, in Island Lakes, and across Winnipeg for metrics like size and value. They highlight that this home offers a city-competitive package in a neighbourhood where it is one of the more modestly scaled properties, which often correlates with a more accessible price point.