Property Overview: 39 Frigate Bay, Island Lakes, Winnipeg

Key Characteristics & Appeal

This two-storey home in Island Lakes stands out for its above-average scale and premium positioning within its immediate neighborhood. Built in 2005, it offers 2,361 sqft of living space, which ranks in the top 3% of homes on Frigate Bay. The property sits on a large, 9,512 sqft lot, providing substantial outdoor space that is a rarity among newer subdivisions. A renovated basement and an attached garage add to its functional appeal.

The home’s primary draw is its elite standing in a highly desirable, established area. It’s not just a large house; it consistently ranks in the top 10% of its peer group for key metrics like living area, lot size, and assessed value. This suggests a property that has been maintained well and offers more substance than many contemporary builds. It would particularly suit buyers looking for a family home in a mature neighborhood who value space—both indoors and out—over a brand-new construction. It’s also a compelling option for those who appreciate a home with a proven history of value retention and a standout presence on its street.

Frequently Asked Questions

1. How does the assessed value compare to recent sale prices?
The home was last sold in early 2020 for an estimated range of $455,000 - $485,000. Its current assessed value is $607,000. This significant gap is common and reflects market appreciation over recent years; the assessed value is for taxation purposes, while the market sale price is determined by current buyer demand.

2. Is the large lot a common feature in Island Lakes?
No, it’s a distinguishing feature. At 9,512 sqft, this lot is substantially larger than the average for both Frigate Bay (~5,751 sqft) and the wider Island Lakes area (~6,407 sqft), offering uncommon privacy and yard space for the neighborhood.

3. What does the "Elite" ranking for living area mean?
It means this home’s square footage is in the top 3% of all 37 homes on Frigate Bay and the top 2% of over 2,100 homes in Island Lakes. Simply put, it is one of the largest homes available in this popular area.

4. The home is 21 years old. What should I consider?
Built in 2005, the home is newer than the Winnipeg city average. Key systems (roof, HVAC, windows) may be approaching or within their typical replacement windows, so a thorough inspection is advised. The renovated basement is a positive update.

5. Are sale prices for nearby homes a good indicator of value for this property?
Nearby homes on the same street provide useful context, but this property’s combination of superior lot size and living area makes it a unique offering. Its value should be compared to other premium, larger-lot homes in Island Lakes, not just its immediate neighbors.