Property score
82.5
Excellent
Overall 82.5 · Newer than most nearby homes
1,689 sqft (top 44%) · Built in 2004 (9 yrs newer than avg)
Located in a high-income area with median household income of ~141k
Transit 62.0 · 2-min walk to transit with 1 nearby route · Within 500m: 3 parks nearby
Living Area
Near average
3% larger than neighborhood avg.
Year Built
Above average
9 yrs newer than neighborhood avg.
Mother tongue
English · 64%French · 6%
Past 10 years Island Lakes sales snapshot (~80% of all data)
654
580k
$348/sqft
1995
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82.5 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: #46111206
$141K
Median household income
$153K
Average household income
3%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.7
P90 / P10 ratio
7%
Single-person households
54%
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
55 Frigate Bay — 3 amenities found within 500 m, across 1 categories, including 3 parks (nearest 263 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%
55 Frigate Bay: We are not showing a transaction history based solely on public data; that does not mean no sale ever occurred. You can still request details by email in the “Data notes” section below—we will look it up manually and reply with the most accurate information available.
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 55 Frigate Bay, Island Lakes, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in the established Island Lakes neighbourhood offers a practical and comfortable living space. Built in 2004, it presents a modern-enough layout without the concerns of an aging structure. With 1,689 sqft of living area, it sits comfortably in the mid-range for the local area, providing ample room for a family. The attached garage and full (though unrenovated) basement add functional space for storage, hobbies, or future expansion.
The primary appeal lies in its balance and location. The home is situated on a manageable 4,654 sqft lot, which means less yard maintenance than many in the area, while still offering private outdoor space. The data reveals a thoughtful perspective: while the assessed value is below average for its immediate street, it is solidly average for the wider Island Lakes area and above average city-wide. This suggests the property may offer relative value within a desirable, mature neighbourhood with parks and waterways.
This home would best suit first-time buyers or growing families looking for a move-in-ready house in a quiet, family-oriented community. It’s also a sensible option for value-conscious buyers who prioritize a modern build year and functional space over having the largest lot on the block or a fully finished basement.
Section 2: Frequently Asked Questions
1. Is the assessed value a cause for concern?
Not necessarily. While it ranks lower on its specific street, its assessment is typical for the larger Island Lakes area and is actually above the Winnipeg average. This often reflects the specific characteristics of the home compared to its immediate neighbours, not the area's desirability.
2. How does the lot size impact the property?
The lot is smaller than many in Island Lakes. This is a advantage for those seeking lower maintenance, but a consideration for buyers dreaming of extensive landscaping, a large deck, or a sprawling backyard.
3. What does "basement not renovated" imply?
The basement is finished but in its original 2004 state. It’s functional living space but may feel dated. This presents a blank canvas for future personalization, but you should budget for updates if modern finishes are important to you.
4. Is the living space sufficient for a family?
At 1,689 sqft, it is very close to the neighbourhood average. It typically provides 3-4 bedrooms and 2.5 bathrooms, which is a standard and workable size for a family. It’s spacious compared to the Winnipeg average home.
5. What are the benefits of the 2004 build year?
A home from this era benefits from modern construction standards and building codes, likely including efficient windows and updated electrical systems. It strikes a balance between being new enough to avoid major immediate repairs and old enough to be situated in a well-established, treed neighbourhood.
