Property Overview: 31 Chancery Bay, River Park South, Winnipeg

Key Characteristics & Appeal

This home at 31 Chancery Bay stands out as a premier property within its immediate community. Its primary appeal lies in offering significantly more space—both indoors and outdoors—than is typical for the area. With 2,212 square feet of living area, it ranks in the top 2% on its own street and the top 5% in the River Park South neighborhood. More notably, the lot size of just over 10,000 square feet is exceptionally large, ranking #1 on the street and placing it in the top 4% of the neighborhood, offering rare potential for privacy, gardening, or expansion.

Built in 1985, the home is of a solid, established vintage, aligning with the average for Chancery Bay. Its assessed value of $650,000 consistently places it in the elite tier for its street (top 2%), neighborhood (top 3%), and city-wide (top 5%), reflecting its perceived premium stature. A less obvious perspective is that this home represents a "king of the street" scenario; it is a benchmark property that likely sets the tone for value and desirability on Chancery Bay. It would perfectly suit buyers who prioritize generous interior space and a large, private yard within a well-established suburban neighborhood, and who see value in owning one of the most substantial properties in the immediate area.

Frequently Asked Questions

1. How does the sold price history compare to the current assessed value?
The home last sold in August 2020 for a price between $500,000 and $550,000. The current assessed value of $650,000 is higher, which may reflect market appreciation, improvements, or the different methodologies used for assessment versus market sale prices.

2. Is the large lot size a common feature in this area?
No, it is a distinguishing feature. The lot is approximately 70% larger than the average lot on Chancery Bay and nearly double the average for the River Park South neighborhood, making it a rare find.

3. What does the "Elite" ranking for assessed value mean?
It indicates the home's municipal assessed value is among the highest percentages when compared to similar homes in each scope (street, neighborhood, city). This suggests it is consistently viewed as a high-value property for its context, not just an outlier on one metric.

4. Are there any potential considerations with a home built in 1985?
As a home from the mid-80s, it is within the typical age range for the street. Buyers should focus on the condition and updates of major systems (roof, windows, HVAC, plumbing) common to houses of this era, as maintenance history becomes as important as the build year itself.

5. How can I verify the exact historical sold prices?
The website notes that due to industry rules, it does not display exact MLS sold figures. They offer a manual lookup service where you can request the full transaction history and exact sold prices via email, which they will provide without using your contact information for marketing.