Property Overview: 7 Cherokee Bay, Niakwa Park, Winnipeg
Key Characteristics & Buyer Profile
This home at 7 Cherokee Bay is a 1,022 sqft bungalow built in 1956, situated on a 5,996 sqft lot in Winnipeg's Niakwa Park neighborhood. Its assessed value is $321,000. The data presents a property of contrasts: while its living space is notably more compact than most homes on its street and in the area, it sits on a lot that is close to the city-wide average. It is also one of the older homes on Cherokee Bay, suggesting a well-established character.
The primary appeal lies in its efficient footprint within a mature, desirable neighborhood. The lot size offers valuable outdoor space relative to the home's size, presenting an opportunity for gardening, expansion, or simply more privacy than newer, denser subdivisions. Its below-average assessed value for the immediate area could indicate a lower property tax burden and a potentially accessible entry point into Niakwa Park.
This property would best suit practical, value-conscious buyers. It's ideal for a first-time homebuyer, a downsizer seeking a manageable home with a generous yard, or an investor looking for a solid rental in a stable area. It appeals to those who prioritize location and land over square footage and are comfortable with a home that may require updates reflective of its age.
Frequently Asked Questions
1. Why is the assessed value significantly lower than the street and area averages?
The assessed value is based on several factors, including the home's smaller living area, its age, and potentially its condition or specific features compared to neighbors. A lower assessment often correlates with a lower property tax bill, which can be a financial advantage.
2. Is the smaller living area a major drawback?
It depends on your needs. For some, it means less space to heat, clean, and maintain, which aligns with a simpler, more efficient lifestyle. The data suggests you are paying for the location and the land, not a large interior. It may be perfect for 1-2 people but feel cramped for a larger family.
3. What does it mean that this is one of the older homes on the street?
Being built in 1956 and ranking as the 4th oldest of 38 on the street indicates the home has historic character and is part of the neighborhood's original fabric. It may have mature trees and established landscaping. However, it also means crucial aging components like the roof, plumbing, or electrical systems may need inspection or have been updated over time.
4. How reliable is the sold price data shown?
The site notes that sold prices are based on public, non-MLS data and are presented in a range (e.g., CA$250k–300k). For fully verified and exact sale figures, you must request a manual lookup from the site via email, as they do not have access to official MLS transaction records.
5. The lot size is below average for the area but average city-wide. What's the takeaway?
This highlights Niakwa Park as a neighborhood with generally larger lots. While this property's lot is on the smaller side for the immediate area, it is still a substantial, city-typical parcel. You get more outdoor space than you would in many newer city neighborhoods, just not as much as some direct neighbors.