255 Park West Drive

Property Overview

255 Park West Drive is a well-maintained two-storey home in the popular Bridgwater Centre neighbourhood. Built in 2014, it sits on a generous 3,106 sqft lot and offers 1,537 sqft of living space. Key features include a renovated basement and a detached garage. The property has demonstrated steady value appreciation, with its last sale in July 2022 at $505,000 and a current assessed value of $470,000. Its rankings indicate it is a newer home within its immediate area and offers above-average lot size for the street.

Section 1: Key Characteristics & Appeal

This home’s primary appeal lies in its balance of modern construction and established community. Being a 2014 build in Bridgwater Centre means major components are still relatively new, offering peace of mind, while the neighbourhood itself has matured with established landscaping and amenities. The renovated basement adds immediate functional space without the need for a project.

Its value proposition is nuanced. While the living area is near the median for the street, the lot size is notably larger (top 48%), offering more outdoor space than many neighbouring properties—a premium in newer communities. The recent sale history shows a significant jump in value between 2022 transactions, suggesting the renovations or market timing added considerable equity.

This property would suit a young family or professional couple looking for a move-in ready home in a sought-after, master-planned community. It’s ideal for buyers who want a newer build but prefer a lot with more room than typical infill properties, and who appreciate the stability of a home that has already seen substantial value growth.

Section 2: Frequently Asked Questions

1. How does the lot size compare to others in Bridgwater Centre?
At 3,106 sqft, the lot is larger than over half of the properties on Park West Drive. This is a distinct advantage in the neighbourhood, providing more private outdoor space.

2. The home sold twice in 2022. What does that indicate?
The sale price increased from $440,000 in April to $505,000 in July of 2022. This likely reflects the value of the basement renovation completed between sales, demonstrating a clear return on that investment.

3. Is the assessed value in line with the recent sale price?
The current assessed value is $470,000, which is below the July 2022 sale price of $505,000. This is not uncommon, as municipal assessments often lag behind rapid market shifts and may not fully capture recent renovations.

4. What does the "newer build" ranking mean for this property?
Ranking in the top 17% for year built on its street and top 4% in the neighbourhood confirms this is one of the newer homes in the area. This suggests lower immediate costs for big-ticket item replacements compared to older stock.

5. How does this home fit within the broader Winnipeg market?
The rankings show this property sits in the top tier for lot size and age city-wide (top 14% and 91% respectively), but is more middle-of-the-road for living area and value. This positions it as a strong community-oriented home rather than a maximum-square-footage option.