358 Riverton Avenue

Property Overview: 358 Riverton Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1953, sits on a notably large lot in the Chalmers neighbourhood. Its primary appeal lies in the land itself—at nearly 6,000 square feet, the property is significantly larger than most in the immediate area and ranks within the top 3% for lot size on Riverton Avenue. The home features a renovated basement and a detached garage. With a modest living space of just over 1,000 square feet and a historically low assessed value, this property represents a land-value opportunity rather than a move-in-ready showcase.

The home would suit a practical buyer looking for a long-term project or investment. It’s ideal for someone with renovation skills who wants to customize their living space over time, or for an investor who recognizes the inherent value in the substantial lot. The low financial barrier to entry, compared to city-wide averages, allows for resources to be allocated toward updates and improvements. A less obvious perspective is that the mature lot size offers privacy and space rarely found at this price point, providing room for gardens, outdoor living, or future expansion that is simply unavailable in newer, denser subdivisions.

Section 2: Frequently Asked Questions

1. Is the low assessed value a concern?
Not necessarily. The assessed value is in line with similar homes on the same street and in Chalmers. Its low ranking city-wide reflects Winnipeg’s broad market range, not a specific issue with the property. It primarily indicates a more affordable entry point into the market.

2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but the specific scope, quality, and permits for this work are not detailed. A prospective buyer should inquire about the renovations' age, finishes, and whether they included moisture-proofing or structural updates.

3. How does the large lot size impact maintenance?
While offering great potential, a lot of this size requires more upkeep for lawn care, landscaping, and snow removal. Buyers should factor in the time and cost for maintenance or the equipment needed to manage it.

4. The home is smaller than average; is it cramped?
With 1,004 sqft of living area, it is compact. However, the renovated basement and the potential of a 1.5-storey layout can add functional space. Its suitability depends heavily on the occupant's needs and their plan to utilize the full property, including the basement and the generous outdoor space.

5. Are the nearby comparable properties similar?
The listed nearby properties vary widely in age, size, and value, indicating a diverse streetscape. Some are century-old, while others are much newer. This suggests the area is not uniform, so the value and character of this specific lot and home should be evaluated on its own merits.