156 Park East Drive

Property Overview: 156 Park East Drive, Bridgwater Centre

Key Characteristics & Appeal

This well-situated two-storey home in Bridgwater Centre offers a balanced proposition. Built in 2017, it presents a relatively modern structure without the premium of a brand-new build. Its primary appeal lies in its generous 4,169 sqft lot, which places it in the top 1% for size on its street and the top 2% within the neighbourhood. This provides significant outdoor space and potential in a community known for more compact urban lots.

The home itself, with 1,508 sqft of living space, is comfortably sized and ranks above average for the area. It features an unrenovated basement, presenting a blank canvas for future expansion or customization. The property suits first-time buyers or young families looking for a move-in-ready home in a sought-after, master-planned community, with the added long-term advantage of a large yard. It also appeals to value-conscious buyers who see potential in personalizing the basement over time, rather than paying a premium for a fully finished product. A thoughtful perspective is that while the assessed value is mid-range, the lot size is a standout feature that may not be fully captured in that valuation, representing a key aspect of the property's inherent value.

Frequently Asked Questions

1. What is the significance of the lot size rankings?
The property's lot is in the 99th percentile for its street, meaning it's larger than almost all its direct neighbours. This is a notable advantage in newer communities where lots are often smaller, providing more private outdoor space and potential for landscaping, gardening, or additions.

2. Is the lack of a garage a major drawback?
While many newer homes include garages, its absence is reflected in the price and should be considered against your lifestyle and budget. It may suit buyers who prioritize lot size over covered parking or who have alternative parking arrangements.

3. What does "basement, not renovated" imply?
The basement is undeveloped. This means lower initial costs and the freedom to finish it to your specific needs and taste, but it also requires planning and investment to utilize that space fully.

4. How does the 2020 sale price relate to today's value?
The home sold for $350,000 in mid-2020. This provides a historical benchmark, but current market conditions, updates to the property, and the notable lot size will be the primary drivers of its present value.

5. The home ranks in the top 29% by age in Winnipeg. What does this mean?
This indicates it is a newer property compared to most of the housing stock in Winnipeg. You benefit from modern construction standards, materials, and likely more efficient systems, while being past the initial "brand new" phase of any builder warranties or settling issues.