Property Overview: 111 Trudell Bay, Mission Gardens, Winnipeg
Section 1: Key Characteristics & Appeal
This 800 sqft bungalow, built in 1994, sits on a generous 6,001 sqft lot in the Mission Gardens neighbourhood. Its key appeal lies in a compelling contrast: it offers one of the newest builds on its street while being one of the most modestly sized homes in the immediate area. This creates a unique value proposition. The assessed value of $380k is around the average for both the wider city and the Mission Gardens area, suggesting the price is aligned with broader market norms rather than inflated by street prestige.
The property would suit practical, value-conscious buyers. It's ideal for a first-time homeowner, a downsizer seeking a manageable single-level layout, or an investor looking for a solid entry in a stable neighbourhood. The well-above-average lot size for the area hints at potential for outdoor space, gardening, or future expansion, offering a tangible asset that the living area alone does not reflect. Buyers should be comfortable with a cozy interior footprint in exchange for a newer build date and a land parcel that outperforms many local and city-wide comparables.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 800 sqft, this is a compact home. It ranks at the very bottom for size on its own street and is below average for the neighbourhood and city. It requires efficient use of space and would not suit those needing multiple large rooms.
2. Why is the assessed value around average if the house is so small?
The assessment reflects more than just living area. Factors like the newer construction (1994), the larger-than-average lot for the area, and overall market conditions in Mission Gardens contribute to an assessment that sits in the middle range compared to other Winnipeg homes.
3. What does "newer build on the street" actually mean for me?
Built in 1994, this home is newer than most on Trudell Bay. This can translate to more modern construction standards, potentially fewer major maintenance issues in the near term, and possibly updated core systems like wiring or plumbing compared to much older homes in the city.
4. How stable is the value in this location?
The last recorded sale was between $350k-$400k in 2021, and the current assessment is $380k. This suggests the value has held steady in a recent market cycle. Being in the middle of the pack for assessed value in the broader area can indicate resilience compared to more volatile, high-premium streets.
5. What is the real advantage of the lot size?
With a lot size that ranks in the top 24% for Mission Gardens, you have significantly more outdoor space than many neighbours. This provides privacy, room for recreation or gardening, and is a long-term asset that can be a key differentiator if you ever choose to expand the home or sell to someone who values yard space.