Property Overview: 111 Petriw Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Inkster Gardens is a practical and straightforward property. Its key appeal lies in being a well-maintained, established home on a quiet bay, offering a renovated basement and a detached garage. At 1,000 sqft of living space, it is very typical for its immediate street but is a more compact option compared to many homes in the wider area and city.
The data reveals a nuanced position: while the home's size and lot are average or below average for the neighbourhood, its assessed value is notably strong for the street (ranking in the top 11%), suggesting it is in good condition relative to its closest peers. Built in 1983, it is also slightly newer than other homes on Petriw Bay. This combination points to a property that has been cared for and represents solid value within its specific micro-location.
This home would suit a first-time buyer, an investor, or someone looking to downsize into a manageable, low-maintenance property. It’s for a buyer who prioritizes a renovated living space and a stable, established community over a large lot or square footage. The appeal is grounded in functionality and value within its immediate context, rather than standout size or luxury features.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to the area?
While its assessed value is below the Inkster Gardens neighbourhood average, it ranks highly (top 11%) compared to homes directly on Petriw Bay. This indicates it is likely in better condition or has more desirable features than its immediate neighbours, offering good relative value on the street.
2. What is the significance of the renovated basement?
A renovated basement in a home of this size effectively adds usable living space, which is a key asset. It can serve as a family room, home office, or additional bedroom area, making the home feel more functional than the main floor square footage alone might suggest.
3. Is the lot size a limitation?
At just under 3,700 sqft, the lot is smaller than many in Winnipeg. This means lower outdoor maintenance, which some buyers will prefer. However, it also limits potential for large additions, pools, or extensive landscaping.
4. What can past sale prices tell us?
The home has sold three times since 2016, with each sale price progressively higher. This trend suggests stable, gradual appreciation in its market value over the past decade, which is a positive indicator of the property’s stability.
5. Who might this property not suit?
Buyers looking for a large, modern home with ample room for expansion or those who prioritize being above neighbourhood averages in size and lot may find this property too compact. It’s best suited for those with modest space needs who value condition and location on a specific, quiet street.