Property Overview: 62 Biscayne Bay, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 62 Biscayne Bay in Maybank is defined by its substantial lot and established character. Its primary appeal lies in the exceptional 6,144 sqft lot, which ranks in the top 2% for size on its street. This offers rare potential for expansion, gardening, or outdoor living in the neighbourhood. Built in 1954, the 1,032 sqft bungalow is a quintessential post-war home, with a living area that is above average for the immediate area but more modest by wider city standards. The assessed value is notably higher than most on its street, suggesting perceived value in the location or lot, but is below average for both the broader Maybank area and the city.

This property would best suit a value-conscious buyer or renovator who prioritizes land size over a large existing footprint. It’s ideal for someone looking for a solid foundation in a mature neighbourhood, with the vision and budget to update the interior or expand the home over time. It’s less suited for buyers seeking immediate move-in condition or maximum interior space relative to the city-wide market.

Section 2: Frequently Asked Questions

1. Why is the assessed value higher than street average, but lower than area average?
This often indicates the property is valued more for its land (which is large) than its current structure. On its street of similar vintage homes, the large lot makes it stand out. Compared to all of Maybank, which includes newer or more updated homes, the older structure brings the total assessed value down.

2. What does the 2023 sold price range (CA$200k–250k) tell me?
It confirms the home was transacted recently, providing a relevant market benchmark. The range is broad because exact prices are not publicly listed in Manitoba; obtaining the exact figure requires a request to the site. This recent sale suggests a stable, active market for such properties.

3. How significant is the lot size, really?
Very. At over 6,000 sqft, it’s more than double the average lot size on Biscayne Bay. This is the property's standout feature, offering privacy, space for additions like a garage or extension, and a generous yard—a rarity in many established neighbourhoods.

4. The home is "below average" in size city-wide. Is that a concern?
Not necessarily, as it reflects the character of its specific neighbourhood. Many mature, desirable areas in Winnipeg feature charming, functional bungalows of this era and size. The trade-off is typically a larger lot and established community feel versus a newer, larger home on a smaller lot in the suburbs.

5. Who are the most likely competing buyers for this home?
Likely first-time buyers or downsizers attracted to the manageable single-level layout and the lot's potential, as well as investors or renovators who see value in the land and the opportunity to add value through updates or a strategic expansion.