Property Overview: 473 Locksley Bay, Winnipeg

Key Characteristics & Appeal

This 934 sqft bungalow, built in 1958, presents a compelling mix of established neighbourhood character and practical value. Its primary appeal lies in its strong position within its immediate locale on Locksley Bay. While the living space is modest compared to broader city averages, the home boasts an assessed value that ranks in the top quarter of its street, suggesting it is well-maintained or has features valued above others nearby. Notably, it is the newest home on its block, a rare "Elite" ranking that hints at potential updates or a later build date than neighbours.

The lot size of just under 5,000 sqft is typical for the Munroe East area, offering manageable outdoor space. The home last sold between 2017-2018, providing a recent market reference point. This property would best suit first-time buyers or downsizers seeking an entry into a stable neighbourhood without a premium for excessive square footage. It’s for the practical buyer who values a solid footing on a specific street over having the largest house on the block, and who might appreciate the lower maintenance that comes with a more compact, efficiently designed lot and home.

Frequently Asked Questions

1. Is the assessed value a reliable indicator of the listing or sale price?
While the assessed value (31.20k) is for municipal tax purposes and ranks well on its street, market sale prices are determined by current conditions. The previous sold price range from 2017-2018 should be used as a historical benchmark, not a current valuation.

2. What does it mean that this is the "newest" home on the street?
Built in 1958, this home is newer than the street average of 1956. In an area of similar-aged homes, this can sometimes indicate newer systems (like plumbing or electrical) or a slightly more modern layout, but a professional inspection is essential to confirm the condition of any 68-year-old home.

3. How does the smaller living area impact value?
At 934 sqft, the living space is below average for the city. This often translates to a more accessible price point and lower utility costs. The value here is focused on the lot location and the home's condition rather than sheer size.

4. Are the nearby "similar assessed value" properties good comparables?
The listed properties share the same municipal assessed value, which is useful for tax comparison. However, true market comparables must also consider similar square footage, lot size, condition, and neighbourhood. A side-by-side analysis of these factors is more telling.

5. What are the next steps if I'm interested?
Review the detailed neighbourhood map analysis to see how this property fits within the context of nearby homes. For precise historical sale prices to inform an offer, you can request the exact data via the provided email service.