Property Summary: 77 Wayfarer's Haven, Island Lakes, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Island Lakes offers a well-proportioned, modern living space with notable updates. Its key features include a renovated basement, an attached garage, and a private pool. At 1,900 sqft, the living space is comfortably above average for the street, neighborhood, and city, indicating a roomier interior than many comparable homes.

The appeal lies in its balance of space, updates, and location. The home is situated on a quiet street within a mature, established neighborhood. While the lot size is typical for the area, the above-average living space and the addition of a pool and finished basement enhance its functionality for private leisure and entertaining. The 2002 build date places it among the newer homes in Winnipeg overall, suggesting modern construction standards while being past the stage of major initial settling or infant defects.

This property would suit a move-up buyer or a family looking for a turn-key home with recreational amenities already in place. It’s ideal for those who value indoor-outdoor living (with the pool) and desire more interior space without necessarily requiring the largest yard on the block. The above-average assessed value for Island Lakes and citywide signals a home that has been valued favorably in the market, likely reflecting its renovations and desirable features.

Section 2: Frequently Asked Questions

1. How does the property’s value compare to its recent sale price?
The home sold in May 2024 for between $645,000 and $675,000. Its current assessed value is $570,000. It’s important to remember that assessed value for tax purposes often lags behind market sale prices and the two figures serve different purposes.

2. Is the pool a major factor in the home’s value and upkeep?
Yes. The pool is a significant lifestyle amenity that adds to the property’s appeal and likely contributed to its sale price. Buyers should budget for ongoing maintenance, seasonal opening/closing, and potential increases in insurance and utility costs.

3. The home is "above average" in size for the city, but how does it feel on its street?
While the living area ranks in the top 21% on Wayfarer’s Haven itself, the lot size is around the street average. This suggests a efficient use of space where the home’s footprint may be larger relative to the yard, which is a common trade-off for more interior room.

4. What does the "renovated basement" typically include in this context?
While specifics would require a viewing, in a 2002 home this often means a finished lower level with recreational space, additional bedrooms, or a bathroom. It adds significant functional living area to the 1,900 sqft main footprint.

5. The home sold recently. What might that mean for a buyer?
A sale within the past year provides a very clear, current benchmark for market value. It also suggests the property may have had limited time for any major changes or depreciation, making its condition at that time a relevant reference point.