Property Overview: 74 Perry Bay, Mission Gardens, Winnipeg
Key Characteristics & Appeal
This home at 74 Perry Bay is a study in contrasts, offering a compelling mix of modest living space on a generous lot. Built in 1976, the 889 sqft house is smaller than average for both the immediate area and the wider city, positioning it as a more efficient, manageable footprint. This is balanced by a nearly 6,000 sqft lot that ranks well above average for the Mission Gardens neighbourhood, offering significant outdoor space and potential.
Its appeal lies in this land-to-building ratio. For the right buyer, the value is in the parcel itself—the home represents a solid, entry-level opportunity with room to grow, garden, or expand. The assessed value is strong for its street, suggesting the property is well-regarded in its immediate context. It last sold between $300k-$350k in 2021.
This property would best suit practical first-time buyers, downsizers seeking a manageable home with generous yard space, or value-oriented investors who see potential in the lot size. It’s for someone who prioritizes land over square footage and is comfortable with a home that may require updates reflective of its era.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its age (50 years), prospective buyers should budget for typical maintenance and updates common to homes from the 1970s. A thorough inspection is recommended to assess the condition of major systems.
2. How does the smaller living area impact livability?
At 889 sqft, the floor plan will be compact. This appeals to those seeking efficient, low-maintenance living but may feel restrictive for those needing multiple dedicated rooms or ample storage. The generous lot can offset this by providing extended living space outdoors in warmer months.
3. What does the above-average lot size mean for me?
The nearly 6,000 sqft lot is a standout feature. It provides privacy, space for recreation, gardening, or future additions like a shed, deck, or even an expansion of the home itself, subject to local zoning.
4. The assessed value seems low compared to the last sale price. Why?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The 2021 sale price range ($300k-$350k) is a more current indicator of its market worth, though conditions have changed since then.
5. What is the neighbourhood like?
Mission Gardens appears to be an established, mature neighbourhood with a mix of home ages and sizes. The data shows consistency in year-built and values on Perry Bay, suggesting a stable, well-kept street.