Property Overview: 9 Cherokee Bay, Niakwa Park, Winnipeg
Key Characteristics & Appeal
This is a modest, single-level home built in 1956, situated on a standard-sized lot in the established Niakwa Park neighborhood. Its key characteristic is its compact size, with 986 sqft of living space, which is notably smaller than most homes on its street and in the wider area. The assessed value of $371k is generally in line with city-wide averages, suggesting the price reflects the lot and location more than the home's square footage.
The primary appeal lies in its efficiency and potential. It represents a more affordable entry point into a desirable neighborhood, ideal for buyers comfortable with a smaller footprint or those viewing the property as a long-term value play. The lot, while below average for the immediate area, is still a good size at nearly 6,000 sqft, offering room for gardening, expansion, or future redevelopment. It would suit first-time buyers, downsizers seeking a manageable home without leaving the area, or investors looking for a property where the land value is a significant component of the asset.
A less obvious perspective is that its smaller size and older vintage could mean lower utility costs and a simpler layout, appealing to those seeking a minimalist lifestyle. Additionally, being one of the older homes on the street (ranked 4th oldest of 38) can add a sense of established character.
Frequently Asked Questions
1. Is the price justified given the smaller living space?
The assessed value aligns with city-wide averages, indicating the price is driven significantly by the lot and location in Niakwa Park, not just the home's square footage. You are paying for the neighborhood.
2. What are the implications of the home being 70 years old?
While it offers classic charm, a thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation. Budgeting for updates should be part of your planning.
3. How does the lot size compare, and what does it allow?
At 5,995 sqft, the lot is smaller than most on Cherokee Bay but is still a generous city lot. It provides ample private outdoor space and may offer potential for additions like a garage, sunroom, or deck, subject to local bylaws.
4. What does the sold price history indicate?
Records show it last sold between $350k-$400k in late 2022. For the exact sale price and a fuller history, you can request a manual lookup via the website, as this data is not sourced from the MLS.
5. Who would this property not be suitable for?
It likely wouldn't suit a growing family needing multiple large bedrooms, someone wanting a modern, move-in-ready open-concept layout, or a buyer who prioritizes having one of the largest properties on the block.