Property Summary: 427 Park West Drive
Section 1: Key Characteristics & Appeal
This well-presented two-storey home in Bridgwater Centre offers modern living in a sought-after neighbourhood. Built in 2016, the home features a renovated basement and a comfortable 1,492 sqft of living space on a generous 2,642 sqft lot. Its recent sale in June 2024 for $474k significantly surpassed the assessed value, indicating strong market appeal and potential value not fully captured by the official valuation.
The primary appeal lies in its balance of contemporary construction, a move-in-ready condition highlighted by the basement renovation, and its location within a popular, newer community. The lot size is notably above average for the immediate street, offering more outdoor space than many nearby properties.
This home would suit first-time buyers or young families looking for a modern, low-maintenance property in a community with newer amenities. It’s also a practical choice for value-conscious buyers who recognize the upside in a home with a recently updated basement and a sale price that demonstrates its market worth beyond the assessment roll.
Section 2: Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property against others on its street, in Bridgwater Centre, and across all of Winnipeg. For example, while the lot size ranks highly locally, the assessed value is middle-of-the-pack for the neighbourhood, which could suggest room for value growth or simply reflect the specific features of this home versus others.
2. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify the permits and compliance of the renovation with the city to understand its potential use and value.
3. How does having no garage impact value and livability?
The lack of a garage is a trade-off. It may be reflected in the assessed value, but for some buyers, the larger lot could provide space to add one later. In the interim, street parking and driveway use are important considerations, especially in winter.
4. The home sold for significantly more than its assessed value. What does that mean?
This is common and indicates that the competitive market price was higher than the city's assessment for tax purposes. It generally reflects strong buyer demand for this specific property and neighbourhood at the time of sale, but it does not guarantee future assessments will rise to match the sale price.
5. How does this part of Bridgwater Centre compare?
The "Bridgwater Centre" area is known for newer homes and community amenities. The data shows this home is newer than most in Winnipeg, but fairly typical in age for its immediate area. The appeal is in the overall community infrastructure, parks, and modern feel rather than standing out as a newly built home.