Property Overview: 31 Cherokee Bay, Niakwa Park
Key Characteristics & Appeal
This home at 31 Cherokee Bay is a well-positioned property in Winnipeg's Niakwa Park neighbourhood. Built in 1955, it sits on a 6,005 sqft lot. With 1,274 sqft of living space and a current assessed value of $426,000, its primary appeal lies in its strong standing within its immediate area. The home offers above-average interior space for its street and a higher-than-average assessed value for both the street and the wider Niakwa Park area, suggesting a solid investment in a stable community.
The property would suit practical buyers looking for a home in an established neighbourhood without paying a premium for a brand-new build. It’s ideal for someone who values a generous lot size and more interior space than many neighbouring homes, providing room to grow or personalize. A thoughtful perspective is that while the home is older, its metrics suggest it has been maintained or valued in a way that keeps it competitive, potentially offering the character of a mature neighbourhood without the steep discount sometimes associated with older homes.
Frequently Asked Questions
1. How does this home compare to others nearby?
The data shows this home ranks above average for both living area and assessed value on its own street and within Niakwa Park. It offers more interior space than most comparable homes on Cherokee Bay.
2. What is the significance of the assessed value?
The assessed value of $426,000 is used for calculating property taxes. It is not the market price, but it is a municipal appraisal. This home's assessment is above the average for its immediate area, which can indicate perceived value but may also relate to property tax calculations.
3. The home was built in 1955. What should I consider?
As a home from the mid-1950s, prospective buyers should budget for potential updates to major aging components like plumbing, electrical, or the roof. An inspection is essential. On a positive note, homes from this era in established neighbourhoods often feature solid construction and larger lot sizes.
4. Can I see the exact historical sale price?
The listing indicates the home sold between $300,000-$350,000 in August 2016. The site notes that to receive verified, exact sold price figures, you must request them via email, as they do not display full MLS transaction records.
5. Is the lot size typical?
At just over 6,000 sqft, the lot is slightly smaller than the average for Cherokee Bay but is very close to the city-wide average. It provides a good balance of yard space without being overly demanding to maintain.