Property score
83.4
Excellent
Overall 83.4 · Newer than most nearby homes
1,517 sqft (bottom 36%) · Built in 2005 (10 yrs newer than avg)
Located in a high-income area with median household income of ~148k
Transit 62.0 · 3-min walk to transit with 1 nearby route · Within 500m: 3 parks nearby
Living Area
Below average
7% smaller than neighborhood avg.
Year Built
Above average
10 yrs newer than neighborhood avg.
Mother tongue
English · 70%French · 6%
Past 10 years Island Lakes sales snapshot (~80% of all data)
654
580k
$348/sqft
1995
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83.4 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: #46111205
$148K
Median household income
$155K
Average household income
3%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.9
P90 / P10 ratio
10%
Single-person households
50%
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
54 Frigate Bay — 3 amenities found within 500 m, across 1 categories, including 3 parks (nearest 259 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 29% | Top 32% | Top 18% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Top 18% | Top 24% | Top 15% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 6% | Bottom 24% | Top 37% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 54 Frigate Bay, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated home in Island Lakes presents a balanced offering for buyers seeking a modern, low-maintenance property in a mature neighbourhood. Built in 2005, it is one of the newest homes on Frigate Bay, offering contemporary construction and systems. With 1,517 sqft of living space and a renovated basement, it provides functional space that is above average for Winnipeg overall. The attached garage and a land size of over 6,000 sqft are practical assets.
The appeal lies in its strong positional value. While the living space is modest for its immediate street, the property holds its value well against city-wide benchmarks, suggesting a solid investment in a desirable area. Its recent sale history indicates steady appreciation. This home would suit first-time buyers or downsizers looking for a turnkey property in a family-friendly community without the upkeep of an older home. It’s also a sensible choice for value-conscious buyers who prioritize a newer build and a good lot size over maximizing square footage.
Section 2: Frequently Asked Questions
1. How does this home’s size compare to others in the area?
While its living area is below the average for Frigate Bay itself, it is competitive within the broader Island Lakes community and is notably larger than the typical Winnipeg home. This suggests a more efficient use of space within a sought-after location.
2. What does the assessed value tell me?
The assessed value is consistently around the average for both the street and Island Lakes, but ranks well above average city-wide. This indicates the property is firmly aligned with its direct market while benefiting from the premium associated with the neighbourhood.
3. The home sold recently in 2024. What should I consider?
The 2024 sale provides a very current market price point. Buyers should investigate the reason for the quick turnaround, but it also means the property has likely been maintained to modern standards very recently.
4. Is the lot size a pro or con?
At over 6,000 sqft, the lot is above average for the street and provides good outdoor space. However, it is slightly smaller than the average lot in Island Lakes. It’s a generous size for manageable gardening and recreation without being excessive.
5. Who would this property not suit?
Buyers needing extensive room to grow a family or who prioritize having one of the largest homes on the block might find the living space limiting. It may also not appeal to those seeking a brand-new development or specific amenities like a pool.
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