Property Overview: 83 Biscayne Bay, Winnipeg

Key Characteristics & Buyer Appeal

This home presents a distinct value proposition centered on its established character and location. Built in 1954, it is notably one of the oldest homes on its street, offering a sense of history and maturity in the Maybank neighbourhood. With 888 sqft of living space, it is a comfortably sized bungalow that sits around the average for its immediate area but is more compact compared to wider city benchmarks. The assessed value is significantly below average for both the street and the city, which typically translates to lower property taxes, a key financial advantage.

The appeal lies in its potential as an affordable entry point into a stable neighbourhood. It suits first-time buyers, downsizers, or investors looking for a manageable property with a lower ongoing tax burden. The lot, while smaller than many in Winnipeg, is standard for the street, suggesting a low-maintenance yard. A thoughtful perspective is that its older vintage, while sometimes a concern for maintenance, also means it was built during a period of different construction standards and may possess a robustness and material quality that newer builds lack. The data suggests you are paying primarily for the land and location here, with the home itself representing a functional opportunity to enter the market.

Frequently Asked Questions

1. What does the "below average" assessed value mean for me?
A below-average assessed value generally results in lower annual property taxes compared to similar-sized homes in the city. It's a practical financial benefit, though it may also reflect the home's age, size, and recent market activity in its immediate area.

2. The home is noted as one of the oldest on the street. Should I be concerned?
An older home (1954) comes with considerations for the age of major systems like roof, plumbing, and wiring, which may need updating. However, its "elite" ranking for age on the street indicates it has been maintained as a viable home for decades and may have a well-established, settled structure.

3. How does the living space compare to a typical Winnipeg home?
At 888 sqft, the living area is below the Winnipeg average (1,342 sqft). This indicates a efficient, compact layout ideal for individuals, couples, or small families who prioritize simpler living spaces over square footage.

4. The sold price history shows a range from 2019. How useful is that?
The price range from 2019 (CA$150k-200k) provides a historical benchmark, but it is not a current market valuation. Market conditions, interest rates, and the property's condition have likely changed since then, so it should be used as a reference point only, not an expectation.

5. The lot is smaller than the city average. What are the implications?
The land area is typical for the street but smaller than most city lots. This means lower exterior maintenance (less grass to cut, garden to tend) and potentially less privacy, but also lower costs and time commitment for yard upkeep—a trade-off some buyers prefer.