Property Overview
This 880 sqft, one-storey home at 40 Petriw Bay in Winnipeg's Inkster Gardens neighborhood presents a straightforward, value-oriented opportunity. Built in 1978, its key characteristics include a renovated basement and a modest 2,798 sqft lot. The home lacks a garage or pool. Its assessed value is notably low compared to city-wide averages, and it last sold in 2021 for an estimated $28.5k–$31.5k.
Section 1: Appeal & Suitability
The primary appeal of this property lies in its affordability and functional updates. With a renovated basement, it offers immediate livability without major renovation costs. Its smaller size and lot translate to lower maintenance and utility expenses, a practical consideration for budget-conscious buyers.
This home would suit first-time buyers seeking an entry point into the market, investors looking for a low-cost rental property, or downsizers wanting a manageable, single-level layout. A less obvious perspective is its potential as a "stepping stone" property; its low carrying costs allow owners to build equity with minimal financial pressure, providing stability while planning a next move. It’s a pragmatic choice for those who prioritize financial flexibility over size or premium location.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed values are relative. While low compared to the entire city, it is more in line with (though still below) averages for its immediate street and the Inkster Gardens area, reflecting the local market conditions and property characteristics.
2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Interested buyers should inquire about the finishes, permits, and whether it includes added living space, a rental suite, or simply updated surfaces.
3. Is the lack of a garage a significant drawback?
This depends on your needs. For some, it simplifies exterior maintenance. For others, it requires planning for vehicle parking and storage. The on-street parking typical of the area should be considered.
4. How does the home's size compare to nearby properties?
At 880 sqft, it is smaller than the average home on its own street (~985 sqft) and significantly smaller than the average in Inkster Gardens (~1,422 sqft). This contributes to its affordability but means space is efficient.
5. Where can I find the exact historical sale price?
The exact sold price is not publicly displayed. As noted on the detail page, you must request it directly via email from the listing service, which provides the accurate figure manually without using your email for marketing.