Property Overview: 1018 Riverwood Avenue, Winnipeg
Key Features & Ideal Buyer
This 1955-built, one-storey home in Beaumont sits on a generous, nearly 5,000 sqft lot, offering more outdoor space than most properties on its street and in the wider neighbourhood. Its key appeal lies in a practical combination of space, established location, and recent updates. The home features a renovated basement, adding valuable finished living area to its 964 sqft main floor, and includes a detached garage. While the house itself is of a vintage common to the area, its lot size ranks in the top tier locally, presenting a clear opportunity for gardening, expansion, or simply enjoying more private outdoor room than newer infill lots typically provide.
Its value is underscored by a current assessed value that places it well above the median for the immediate street. This home would suit a first-time buyer or downsizer looking for a manageable single-level layout with immediate move-in readiness thanks to the basement renovation. It’s also a sensible fit for a value-conscious buyer who prioritizes a larger lot in a mature neighbourhood over a newer, but potentially more constrained, property. The strong historical sale price from 2016 suggests the area has held its appeal over time.
Frequently Asked Questions
1. How does the lot size compare to newer homes?
At 4,976 sqft, the lot is substantially larger than the standard for many modern subdivisions. It ranks in the top 18% on Riverwood Avenue, offering a notable amount of private outdoor space.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on finish quality, layout, and permits should be verified by a buyer's inspection. It adds valuable finished square footage to the home's total living area.
3. Is the detached garage a standard size?
The listing notes a detached garage but does not specify dimensions. Viewing the property is necessary to confirm its size and condition.
4. How does the assessed value relate to the likely listing price?
The assessed value is $31.40k, a provincial valuation for tax purposes. It is not a market price. The last known sale was in 2016 for $25.30k, which was a top-tier price for the street at that time, indicating the property's market value has historically tracked above area averages.
5. What are the implications of the home's age (built 1955)?
While the building is older, the renovated basement suggests some updates. A thorough inspection is recommended to assess the condition of major aging components like the roof, plumbing, electrical, and foundation, which is typical for homes of this vintage.