Property Overview: 6 Silverwood Bay, Winnipeg

Key Characteristics & Appeal

This one-storey home at 6 Silverwood Bay in the Jameswood area presents a practical opportunity, particularly for its generous lot size. Built in 1957, the 1,029 sqft house sits on a 6,501 sqft parcel of land, which is notably larger than most lots in both the immediate neighborhood and citywide. While the living space is modest and the basement is unrenovated, the property’s assessed value is strong for the Jameswood area, indicating it is viewed favorably within its local market context.

The primary appeal lies in its land value and established location. It suits a buyer looking for a solid footprint in a mature neighborhood, potentially a first-time homeowner comfortable with a property that may require updates, or a long-term investor valuing the underlying land asset. The home’s older vintage and unrenovated state suggest it’s a candidate for personalization or gradual improvement, rather than a move-in-ready showcase. A thoughtful perspective is that while the house itself is average for the street, its lot size and local assessment standing offer a relative advantage that may not be immediately obvious from the square footage alone.

Frequently Asked Questions

1. What is the true significance of the lot size?
At over 6,500 sqft, the lot is substantially larger than the average for Jameswood. This offers more outdoor space for gardening, recreation, or future expansion like an addition or garage, which can be a rarity in older neighborhoods.

2. The assessed value seems low. Is this accurate?
The assessed value shown (31.70k) is likely not the market value but a relative figure used for municipal tax purposes. The key takeaway is its ranking—it’s assessed higher than 70% of similar homes in Jameswood, suggesting the property is considered above average for the area by the assessor.

3. What does the sold price history from 2016 indicate?
The sold price range from 2016 provides a historical benchmark, but it is not a current market valuation. It shows the property’s price point from nearly a decade ago, which may be useful for understanding long-term trends but should not be used to estimate its value today.

4. Who would this property not suit?
It may not suit buyers seeking a modern, low-maintenance home with updated finishes and a finished basement. The "not renovated" basement and the home’s age indicate a project element that requires additional budget and vision.

5. How should I interpret the neighborhood rankings?
The rankings compare this home to others on Silverwood Bay, in Jameswood, and citywide. They show that while the house is average in size for its street, it stands out in Jameswood for its lot size and assessment, offering a blend of a standard home on a better-than-standard property.