Property Summary: 5 Penticton Bay
Key Characteristics & Buyer Profile
This 1967 home offers 925 sqft of living space on a 5,461 sqft lot. It sits in a strong value position relative to its immediate neighbourhood. The assessed value of $382,000 ranks in the top 19% on its street and within Windsor Park, meaning it holds above-average equity compared to nearby homes despite having below-average living and land area.
The appeal lies in the balance between condition and cost. While the living space is compact (ranking 56th out of 57 homes on the street) and the lot is the smallest on the block, the home’s newer vintage relative to its neighbours is a clear advantage. Built in 1967, it is the newest home on Penticton Bay and newer than 95% of homes in the wider community.
This property would most suit buyers who prioritize a well-priced, solidly built home in a mature neighbourhood over maximum square footage or a large yard. It works well for first-time buyers, downsizers, or investors looking for an asset with strong tax-assessed value relative to its peer group. The trade-off is clear: you get a newer build and good value retention, but not much room to spread out.
Frequently Asked Questions
1. Why is the living space ranked so low if the home is newer?
The living area (925 sqft) is smaller than both the street average (1,182 sqft) and the community average (1,091 sqft). Newer homes in this area still tend to be modest in size, but this particular unit is on the smaller end even for its era and location. The value is in condition and age, not size.
2. Is a small lot a concern for resale?
It depends on what buyers in Windsor Park typically want. The lot is the smallest on the street and below the community average. However, lots in the area are generally generous (averaging 6,030 sqft community-wide), so this home still offers a usable, low-maintenance yard. Buyers who value less upkeep may see it as a plus.
3. How does the assessed value compare to similar homes?
The home's assessed value is above the street and community averages but very close to the citywide average of $390,000. This suggests it's priced consistently with broader market conditions, while still offering a slight value edge within its immediate surroundings.
4. Does this home need major updates soon?
The property was built in 1967, which is newer than most of its neighbours. Without specific details on renovations, a home of this age typically benefits from having had updates to mechanicals (roof, furnace, windows) within the last 10–15 years. It's worth confirming the condition of major systems before purchase, as age alone doesn't guarantee condition.
5. Who typically buys in this part of Windsor Park?
Windsor Park tends to attract buyers looking for established, family-oriented neighbourhoods with good access to amenities and schools. This specific home, being smaller and newer, may also appeal to retirees or couples who want a quieter home without the maintenance demands of a larger, older property.