Property Overview
3 Perry Bay is a well-established home in Winnipeg's Mission Gardens neighbourhood. Built in 1976, it sits on a spacious 5,700 sqft lot and offers 1,262 sqft of living space. Recent sales data shows it sold in the $350k-$400k range in 2024. Its appeal lies in its strong positional value within its immediate street and area, offering more space and a newer build than many direct neighbours, while presenting a solid, average value proposition for the wider city.
Key Characteristics & Ideal Buyer
This home stands out on its own street. It has one of the newest builds on Perry Bay (top 3%) and significantly more living area than the street average (top 5%), making it a notably above-average property in its micro-location. The lot size is consistent with the area, and its assessed value is strong locally. This creates a compelling profile: a home that offers modern conveniences relative to its immediate peers without an extreme premium.
The property would suit a practical buyer who values neighbourhood character and space over a brand-new build. It’s ideal for someone who understands the value of being a "big fish in a small pond"—owning one of the more substantial and updated homes on a mature street. It also appeals to those looking for a manageable yard in a settled community, potentially a young family or downsizers seeking single-level living in a 50-year-old home.
Frequently Asked Questions
1. How does this home truly compare to others in Mission Gardens?
While its living space is above average for the broader Mission Gardens area (top 28%), its overall assessed value is right at the neighbourhood median (top 44%). This suggests you're getting more house for a typical area price, with the premium being its superior standing on its specific street.
2. What might the sold price ranges indicate about the market?
The 2024 sale price ($350k-$400k) placed it in the top 30% for its area, a significant jump from its 2019 sale position (top 67%). This indicates growing buyer appreciation for its specific attributes, likely its size and relative age on the street, outpacing general area appreciation.
3. Is the Year Built (1976) a concern?
On Perry Bay, it's an advantage (newest on the street). For the city, it's slightly newer than the average Winnipeg home. This means major components like the roof, windows, and systems are likely from a more modern era than many neighbours but may still be due for updates or preventative maintenance.
4. How usable is the land area?
At 5,697 sqft, the lot is very typical for both the street and the city. It offers ample backyard space for gardening or recreation without being overly large to maintain, fitting the classic Winnipeg residential lot profile.
5. Why is the city-wide assessed value average so much higher?
The city-wide average assessed value shown (~$390k) includes all home types across Winnipeg. This home's assessment ($371k) is more reflective of its specific market segment. The key takeaway is that its value is strong on its street and average for its area, which is a stable position.