197 Park Valley Road

Property Overview

This two-storey home in Bridgwater Forest is a well-established property in a sought-after neighbourhood. Built in 2011, it sits on a generous 6,068 sqft lot and offers 2,048 sqft of living space. Key features include an attached garage and a basement (not renovated). The home’s recent sale history shows a sale in September 2023 for $69.50k, following a previous sale in November 2020 for $610k. Its current assessed value is $66.70k.

Key Characteristics & Appeal

The primary appeal of this property lies in its strong positioning within a popular, modern community. The lot size is notably larger than many in Winnipeg, offering ample outdoor space in a neighbourhood known for its planned amenities and family-friendly atmosphere. While the interior may benefit from updates, the structure is relatively young and solid. The home’s assessed value ranks in the top 4% city-wide, suggesting a history of value retention and a desirable location.

It would suit a buyer looking for a foothold in Bridgwater Forest who values land size and community over a turn-key, renovated interior. It’s a practical choice for a handy homeowner comfortable with gradual updates or an investor seeing potential in a high-demand area. A less obvious perspective is that the significant difference between the 2020 sale price and the current assessed/2023 sale price is a critical point for discussion, requiring clarification on market conditions or property history.

Frequently Asked Questions

1. Why is there such a large difference between the 2020 sale price and the more recent prices?
This is a key question for your real estate agent to investigate. It typically reflects broader market shifts, but understanding the specific context for this property is essential.

2. What does "basement, not renovated" imply?
It means the basement is unfinished or in its original builder state. It presents blank-canvas potential but will require investment to develop into living space.

3. How does the lot size compare to typical properties in the area?
At over 6,000 sqft, this lot is larger than 64% of others on the street and 71% across Winnipeg, which is a significant advantage for outdoor space and privacy.

4. What is the neighbourhood ranking based on?
The rankings compare this property's metrics (like lot size, living area, value) against all other homes on its street, in Bridgwater Forest, and across Winnipeg, giving a data-driven sense of how it measures up.

5. Is the 2023 sale price a reliable indicator of current market value?
While a very recent sale is a strong data point, current market value is determined by present conditions, comparable active listings, and a professional appraisal.