Property Overview: 87 Petriw Bay, Winnipeg
Key Characteristics & Appeal
This one-storey home in Inkster Gardens presents a practical opportunity centered on its land and value. At 1,000 sqft with a renovated basement, the living space is modest but functional, ranking around average for its immediate street. The home’s true standout feature is its 6,231 sqft lot, which is significantly larger than most in the neighbourhood and on the street, offering ample outdoor space and potential. Built in 1983, it is relatively newer than many homes on Petriw Bay.
The appeal here is grounded in value and possibility. With a recently sold price in the mid-to-high $30k range and an assessed value of $36.10k, it represents a highly accessible entry point into the Winnipeg market. This isn’t a move-in-ready showcase home; its charm lies in what it could become. It would suit a first-time buyer, an investor, or a hands-on owner looking for a solid foundation (both literally and financially) on a generous lot. The renovated basement adds immediate functional living space, making it a viable project for someone who can live in part of the home while gradually updating the rest or for an investor seeking a straightforward rental property.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The property’s lot is in the top 13% for size within Inkster Gardens, meaning you get substantially more yard space than most neighbours. This allows for privacy, gardening, expansion, or future additions where bylaws permit.
2. How does the home’s condition compare to the neighbourhood?
The data suggests it's a balance. The living area is below the neighbourhood average, indicating a more compact home. However, it is newer than 80% of homes in Inkster Gardens, which can imply fewer immediate concerns with aging components compared to much older stock.
3. What does the sold price history indicate about value?
The home sold for between $35.5k and $38.5k in late 2024, closely aligning with its current assessed value. This suggests a stable, transparent market value without significant speculation or volatility attached to the property.
4. Who would this property not suit?
It may not suit buyers seeking a large, modern living space without renovation work, as the square footage is modest. It also lacks a garage, which could be a drawback for those requiring vehicle storage or workshop space.
5. How does it rank on its own street versus the broader area?
This reveals an interesting dynamic. On Petriw Bay, this home ranks very well for lot size and is above average for year built and assessed value. However, within all of Inkster Gardens, it ranks below average for living area and assessed value. This highlights that it's a stronger contender within its immediate micro-market than in the wider neighbourhood context.