Property Overview: 4 Chippawa Bay, Niakwa Park

Section 1: Key Characteristics & Appeal

This is a well-situated, mid-century home in the established Niakwa Park neighbourhood. Built in 1956, it sits on a generous 6,500 sqft lot, which is notably larger than many city-wide and area averages, offering valuable outdoor space and potential. With 1,113 sqft of living area, the home itself is more compact relative to its immediate street and neighbourhood, suggesting a efficient layout or potential for expansion.

The primary appeal lies in its strong value proposition within its specific location. The home’s assessed value of $401k ranks highly on its own street (top 20%), indicating it is considered a premium property on Chippawa Bay. This creates an interesting dynamic: you're acquiring a home viewed as a top-tier property on its block, set on a larger-than-average lot, but without the square footage of some neighbouring homes. It last sold between $400k-$450k in late 2021.

This property would suit a buyer who prioritizes lot size and location over sheer interior space. It’s ideal for someone looking to put down roots in a mature neighbourhood, who may value garden space, privacy, and the potential to renovate or extend a structurally sound older home. It also appeals to the value-conscious buyer who understands that a higher assessment on a desirable street can be a marker of long-term stability and desirability.

Section 2: Frequently Asked Questions

1. Is the house too small for the price?
While the living area is below average for the street, the assessed value is among the highest there. This suggests the lot size, specific location, and condition of the home contribute significantly to its value, not just square footage. It represents a different kind of value—in land and position.

2. How does the assessed value relate to the likely selling price?
The assessed value ($401k) is for municipal tax purposes and is a historical snapshot. The previous sold price (2021) provides a more recent market data point. A current market evaluation would consider both, along with present conditions and upgrades.

3. What does the larger lot size mean for me?
A 6,500 sqft lot in this area offers ample room for gardening, recreation, and outdoor living. It also provides a valuable buffer from neighbours and presents future potential, such as additions or landscaping projects, subject to local bylaws.

4. As a 1956 home, what should I be concerned about?
Homes of this age may have original components nearing the end of their service life, such as the roof, windows, plumbing, or electrical systems. A thorough inspection is essential to budget for any necessary updates or modernizations.

5. How can I get the exact historical sold prices?
The site provides sold price ranges publicly. Due to industry regulations, exact MLS sold figures are not displayed online here. You can request the exact sold price history via email from the site’s team, who will provide the verified figures manually.