Property Overview: 493 Sharron Bay, Winnipeg

Section 1: Key Characteristics & Appeal

This home in the Rossmere-A neighborhood presents a compelling case based on its strong positional metrics. Built in 1960, its key appeal lies not in being new, but in offering above-average space and land size within its immediate context. With 1,189 sqft of living area, it is notably larger than most comparable homes on its street and in the wider community. Its most standout feature is the land: at 8,226 sqft, the lot size ranks in the top 2% on Sharron Bay and the top 5% in Rossmere-A, offering significant outdoor space that is increasingly rare.

The home’s municipal tax assessment of $394,000 is substantially higher than the local street and community averages, which can indicate perceived value by the assessor but also suggests property taxes will be at the higher end for the area. A less obvious point of appeal is its consistency; the 1960 build year is among the newest on its specific street, suggesting a potentially similar maintenance and upgrade timeline among neighboring properties.

This property would best suit buyers who prioritize land size and interior space over a modern build, and who see value in a home that stands out statistically within its established neighborhood. It’s a practical choice for those needing room for a family, gardening, or outdoor recreation, and who are comfortable with the upkeep considerations of a mid-century home.

Section 2: Frequently Asked Questions

1. What does the high tax assessment relative to the neighborhood mean?
A higher assessment typically reflects the city’s valuation of the property’s worth relative to others, often influenced by lot size, living area, and improvements. It suggests the property is considered a premium offering on its street, but it also means your property tax bill will likely be higher than if the assessment were at the community average.

2. How significant is the lot size advantage?
Very significant in this context. The lot is over 2,000 sqft larger than the street average and nearly 2,500 sqft larger than the community average. This translates to more private outdoor space, potential for additions (subject to zoning), and generally a less crowded feel compared to nearby properties.

3. The home was built in 1960. What should I be aware of?
While the build year is standard for the area, a home of this age may have original or aging core components like plumbing, electrical, windows, and the roof. A thorough inspection is essential to understand the condition and to budget for any necessary updates or maintenance.

4. The last recorded sale was in 2022 for an estimated $450,000-$500,000. How useful is that price today?
It serves as a historical benchmark, showing the property’s market position two years ago. However, market conditions, interest rates, and the property’s condition may have changed since. It’s a starting point for research, not a definitive current value.

5. How does the living space compare to a typical new home?
At 1,189 sqft, it is moderately sized by today’s standards, where new single-family homes often start closer to 1,400 sqft. The appeal here is that this space is above average for its specific, established neighborhood, offering more room than most immediate comparables rather than competing with new suburban builds.