Property Overview: 3 Cherokee Bay, Niakwa Park, Winnipeg
Key Characteristics & Appeal
This is a modest, well-established bungalow in the desirable Niakwa Park neighbourhood. Built in 1955, the home offers 1,090 sqft of living space on a roughly 6,000 sqft lot. The data reveals a clear narrative: this property sits at a more accessible entry point within its prestigious area. Its assessed value ($328k) is notably below the averages for both its street and neighbourhood, yet it aligns closely with the wider Winnipeg average. This presents a key opportunity—the chance to secure a home in a sought-after community at a value-oriented price point, often appealing to those who prioritize location over sheer size.
The appeal lies in its potential. It suits a first-time buyer looking to enter a stable, mature neighbourhood, or a downsizer seeking a manageable property in a familiar area. It’s also a sensible option for an investor or renovator who sees value in the lot location and is prepared to update a home of this vintage. A less obvious perspective is that a smaller home on a decent lot in such an area can offer a balanced lifestyle with less maintenance than larger estates on the street, while still providing the benefits of the community.
Frequently Asked Questions
1. Is this a good value for Niakwa Park?
The data suggests it is. The home’s assessed value is in the bottom 3% for the neighbourhood, meaning it is priced significantly below area comparables. This indicates a lower entry cost to access this specific community.
2. How does the home’s size compare to others?
At 1,090 sqft, the living area is below the average for both Cherokee Bay and Niakwa Park. It is a compact bungalow, which is reflected in its value positioning. Buyers should expect a cozy, efficient layout typical of its era.
3. What can past sale prices tell us?
The home sold in 2022 for an estimated $400k-$450k and in 2017 for $250k-$300k. The 2022 sale price was above the current assessed value, which is common, but it provides a recent market benchmark. Exact figures can be requested from the site.
4. Is the lot size typical?
The lot is just under 6,000 sqft, which is below average for the immediate area but very close to the city-wide average. It offers standard suburban outdoor space but is not as expansive as some others on the street.
5. How can I get verified sale price history?
Due to industry regulations, exact sold prices are not displayed publicly on the site. You can request the full transaction history via email, and the team will provide the verified figures manually at no cost.