50 Bishop'S Lane

Property Overview: 50 Bishop's Lane, Ridgedale, Winnipeg

Section 1: Key Characteristics & Appeal

This is a spacious, well-established family home in Winnipeg's Ridgedale neighborhood. Built in 1969, it sits on a large, private lot of nearly 8,500 sqft. The key feature is its generous 2,552 sqft of living space, which places it in the top 2% of homes in Winnipeg for size. It offers a finished basement, a two-storey layout, and an attached garage.

The appeal lies in its combination of space, a mature setting, and proven value. The lot size provides room for outdoor activities and gardens, a rarity compared to newer subdivisions. While the home is from the late 1960s, its above-average living area and finished basement offer ample room for a growing family or those who enjoy hosting. The data suggests a home that has been a solid financial asset, with its current assessed value significantly higher than its 2017 sale price.

This property would best suit buyers looking for a classic, spacious family home in a mature neighborhood, who value larger interior and exterior spaces over a brand-new build. It’s ideal for those comfortable with a home of this era, who may see potential in updating certain elements over time to personalize it. The strong city-wide rankings for lot and home size indicate a property that stands out in terms of sheer space, offering a sense of permanence and room to grow that can be hard to find.

Section 2: Frequently Asked Questions

1. What is the neighborhood like?
Ridgedale is a mature, established community in Winnipeg. The property's rankings show it is a fairly typical home for its specific street and the wider Ridgedale area in terms of age and value, but it stands out for its larger-than-average lot and interior space within the community.

2. What should I know about a home built in 1969?
Prospective buyers should plan for a standard inspection to assess the condition of major aging components like the roof, windows, plumbing, and electrical systems, which may be original or nearing the end of their service life. This is common for homes of this vintage and allows for informed planning.

3. How does the assessed value relate to the likely selling price?
The municipal assessment of $651,000 is for tax purposes and provides a benchmark. The more telling data point is the 2017 sale at $538,000, showing historical value growth. The eventual selling price will be determined by current market conditions, the home's specific state, and buyer demand.

4. Is the finished basement included in the listed living area?
Typically, municipal living area (the 2,552 sqft figure) does not include below-grade space. The finished basement is an additional bonus area, adding functional space for recreation, guests, or a home office.

5. The home ranks very highly for size in Winnipeg, but lower within its own community. What does this mean?
This interesting contrast suggests that while Ridgedale itself is a neighborhood of generally spacious, established homes, 50 Bishop's Lane is among the larger ones there. On a city-wide scale, however, it is exceptionally spacious. This indicates you are buying into an area known for solid, family-sized properties, with this one being a particularly strong example in that category.