Property Overview: 115 Petriw Bay, Winnipeg

Key Characteristics & Appeal

This bi-level home at 115 Petriw Bay in Inkster Gardens is a compact, efficiently presented property. With 844 sqft of living space, it is notably smaller than most homes in its immediate area and across Winnipeg, positioning it as a true starter home or downsizing opportunity. Its key updated feature is a renovated basement, adding functional living space. The home sits on a 3,706 sqft lot, which is manageable and typical for its local street.

The primary appeal lies in its affordability and recent sales history, showing steady value appreciation over the last decade. While smaller in size, it is newer than many homes on its street (built in 1983), and its assessed value is competitive within the neighborhood. This property would best suit first-time buyers seeking an entry point into the market, investors looking for a rental property, or empty-nesters wanting a low-maintenance home without the upkeep of a larger lot or structure. It offers a practical, no-frills living option where value is derived more from financial accessibility than from premium space or amenities.

Frequently Asked Questions

1. How does the size of this home compare to others?
At 844 sqft, this home's living area is in the bottom 3% for the Inkster Gardens area, making it significantly smaller than the neighborhood average. This is the defining characteristic of the property.

2. What is the significance of the renovated basement?
The renovated basement effectively adds usable living space to the home's footprint, which is a crucial upgrade given the smaller-than-average main floor area. It improves the functionality and potential utility of the property.

3. Has the property's value been stable?
Public sales data indicates the sold price has increased from the $21.5k-$24.5k range in 2017 to $35.5k-$38.5k in 2022, suggesting a trend of appreciation over a five-year period.

4. What are the rankings, and what do they mean?
The rankings compare this home against others on the same street, in Inkster Gardens, and city-wide. For example, its "Top 97%" rank for living area in the neighborhood means 97% of area homes are larger. These metrics help contextualize its standing in various markets.

5. Is there a garage or pool?
No, the property has no garage or pool. This aligns with its position as a streamlined, affordable housing option with lower maintenance responsibilities.