83 Cormorant Bay

Property Overview & Key Characteristics

83 Cormorant Bay is a well-situated bi-level home in Winnipeg's Southdale neighbourhood, built in 1966. Its key appeal lies in a combination of space, location, and value. The home sits on a large, 5,773 sqft lot that ranks in the top 10% of the neighbourhood for size, offering ample outdoor potential. The living area of 1,040 sqft is also notably above average for the immediate street. A significant feature is the renovated basement, which adds valuable finished space. The property includes a detached garage.

Its appeal is grounded in solid fundamentals: it's a larger-than-average property in a desirable area, with the heavy lifting of a basement renovation already completed. The assessed value positions it as a accessible entry point into Southdale. This home would suit first-time buyers or downsizers looking for a manageable bi-level layout with room to grow or garden, and for value-focused buyers who prioritize lot size and move-in readiness over a newer build date. A thoughtful perspective is that while the home is 60 years old, its above-average rankings for both lot and living space in a mature neighbourhood like Southdale suggest a property with enduring utility and scarcity value that newer subdivisions often lack.

Frequently Asked Questions

1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key point for clarification, as it could range from updated finishes to a fully developed legal suite or additional living space.

2. How does the assessed value relate to the likely selling price?
The assessed value is $40,300k for municipal tax purposes. In Winnipeg's market, selling prices are typically higher than the assessed value. Reviewing the list prices of the "Worth viewing" comparable properties provided (e.g., 231 Edgewater Drive, assessed at $45.20k) will give a more realistic expectation of current market value.

3. Is the lot size a major advantage?
Yes. The lot is in the top 17% for size on its street and top 10% in Southdale. This is a less obvious but significant asset, offering more privacy, landscaping potential, and future expansion options than many neighbouring properties.

4. What are the implications of the home's age (1966)?
While the building is 60 years old, the renovated basement addresses a major update. Buyers should focus on the condition of major 1966-era components not mentioned, such as the roof, windows, and major systems (plumbing, electrical, heating), and budget for their maintenance or updating.

5. How does this home compare to others in the area?
The provided comparisons show it has a smaller living area than many similar Southdale homes but a competitively low assessed value and a larger-than-average lot. It appears to be a more land-value and value-conscious option compared to larger, higher-assessed homes on the same street.