Property Overview: 315 Riverton Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home on Riverton Avenue presents a compelling blend of space, value, and established character. Built in 1962, it sits on a generous 4,407 sqft lot that is well above average for both the street and the broader Chalmers neighbourhood. The home’s primary standout feature is its significant 1,920 sqft of living area, which ranks in the elite top 4% of homes on its street and top 2% in Chalmers, offering substantially more interior space than most comparable properties.
Its appeal lies in this rare combination of a large lot and spacious interior for the area, coupled with a recently renovated basement that adds functional living space. The sale history shows a notable and well-above-average sale price for the neighbourhood in late 2024, indicating strong market recognition of these attributes. It suits buyers looking for a home with room to grow or simply more square footage than is typical in the area, without the premium price tag of newer subdivisions. It’s particularly well-matched for those who value established communities, larger lot sizes, and the potential that comes with a renovated lower level.
Frequently Asked Questions
1. How does the assessed value relate to the recent sale price?
The home’s assessed value is $38.40k, but it sold for $38.50k in October 2024. This indicates the sale price was closely aligned with its municipal assessment at that time, which is common. The significant jump from its 2017 sale price of $320k to the 2024 price reflects the substantial increase in its assessed value over that period.
2. Is the large living area due to finished spaces like the basement?
The 1,920 sqft living area metric typically includes all above-grade finished space. The listing specifically notes a renovated basement, which would provide additional, valuable living space beyond this already large main-floor and second-floor total.
3. What does the "elite" ranking for living area practically mean for me?
Practically, it means this home offers roughly twice the interior living space of the average comparable home on Riverton Avenue (1,035 sqft avg.) and in Chalmers (953 sqft avg.). You are getting a significantly larger house for the neighbourhood.
4. The home was built in 1962. What should I consider?
While newer than many homes on the street (top 18%), a 60+ year-old home will have its original major systems, like plumbing and electrical. A thorough inspection is essential. The renovated basement is a positive update, but the condition of the roof, windows, and foundation should be key focal points.
5. There’s no garage. How does that impact value and lifestyle here?
The lack of a garage is a trade-off for the large lot and home size at this price point. It’s important to view the lot size (4,407 sqft) as a potential asset—there may be space for off-street parking or future addition, subject to local bylaws. For many buyers in established neighbourhoods, on-street parking is a common and accepted lifestyle adjustment.