Property Overview: 8-120 Niakwa Road
Key Characteristics & Appeal
This 950 sqft property, built in 1978, is situated within the Alpine Place complex on Niakwa Road. Its primary appeal lies in its exceptional value proposition within its immediate area. The data indicates it holds a very low assessed value compared to the wider Winnipeg market, ranking in the top 3% of the city for affordability. This presents a notable entry point into a neighbourhood where the property itself ranks in the top tier (top 0%) for its street location.
The home would suit practical, value-conscious buyers such as first-time homeowners seeking to build equity, investors looking for a rental property with a low tax base, or downsizers prioritizing financial efficiency over size. Its smaller living area and lack of a private garage or basement suggest a lifestyle of simplicity and lower maintenance. A thoughtful perspective is that this unit offers the benefits of a established, mature neighbourhood without the premium price tag often associated with it, acting as an affordable foothold in a desirable area.
Frequently Asked Questions
1. What does the "rank" data actually mean?
The rankings compare this specific unit against others on the same street, in the neighbourhood, and across Winnipeg. For example, being in the "Top 0%" in the neighbourhood for its street means its location within Alpine Place is considered among the very best plots available in the immediate area.
2. Why is the assessed value so much lower than the last sale price?
The property last sold in 2016 for $155,000, while the current assessed value is $13,600. This enormous discrepancy is almost certainly because the assessment reflects only the unit itself (the "condo" portion), not the shared land value of the entire complex, which is a common assessment method for condominiums.
3. What are the implications of having no private garage or basement?
This means storage and vehicle parking will be defined by the complex's common amenities. Buyers should inquire specifically about allocated parking spots and any on-site storage lockers or options. Utilities and maintenance for these areas will be handled through the condominium corporation fees.
4. The living area is noted as smaller than most in the area. How might that affect living here?
The 950 sqft size ranks in the bottom quarter for the street. This indicates an efficient, compact layout. It would be wise to assess if the floorplan is open or segmented, and to consider furniture scale and storage solutions during a viewing.
5. The building is 48 years old. What should I be asking about?
Focus on the health of the condominium corporation. Inquire about the reserve fund study, recent or upcoming special assessments for major repairs (like roofing, windows, or foundation), and the monthly fee structure to understand your long-term financial responsibility.