160 Prairie Spring Bay

Property Overview: 160 Prairie Spring Bay, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated home in Inkster Gardens is a modern, above-average offering within its context. Built in 2019, it is a newer construction compared to most homes in Winnipeg, requiring less immediate upkeep. The 1,765 sqft living space is practical and ranks above average for both the neighbourhood and the city. Its appeal is bolstered by a renovated basement and an attached garage. The assessed value is notably strong, placing in the top 15% on its street and the top 8% in Inkster Gardens, suggesting a perception of solid value.

The property suits buyers seeking a move-in ready, modern home without the premium of a brand-new build. It’s ideal for small families or professionals who value space and contemporary features. A thoughtful perspective is its positioning: while the lot size is standard for the city, it is above average for its immediate area, offering a bit more outdoor space than many neighbouring newer homes. This creates a balanced offering of modern interior space and usable land.

Section 2: Frequently Asked Questions

1. How does this home truly compare to others in the area?
The data shows it consistently outperforms benchmarks. It’s newer than 99% of homes in Inkster Gardens, has above-average living space, and carries an assessed value in the top 8% of the neighbourhood, indicating it’s a standout property in multiple categories.

2. What is the likely property tax based on the assessed value?
With an assessed value of $63,300, property taxes can be estimated by applying the City of Winnipeg’s current mill rate. This figure is significantly above the neighbourhood average, so while it indicates a valuable property, it also suggests correspondingly higher taxes.

3. The home sold twice in 2019. What does that indicate?
The two sales in 2019 (August and October) likely represent the initial purchase from the builder followed by a quick re-sale. This isn’t uncommon with new constructions and isn’t inherently a red flag, but reviewing the exact sale price history (available by request) would provide clearer insight into its initial market trajectory.

4. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers interested in rental income should verify its compliance with local zoning and licensing regulations.

5. Given its strong assessed value, what does that mean for an offer price?
A high assessed value often correlates with a higher market value, but it is not a direct appraisal. It reflects the city’s valuation for tax purposes. Market conditions, the home’s condition, and recent comparable sales should be the primary guides for determining a competitive offer.