Property Overview: 381 Riverton Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 2012, stands out in its Chalmers neighbourhood for its modern age. While its 1,032 sqft living space is fairly typical for the area, the property is situated on a compact 2,334 sqft lot, which is significantly smaller than most in Winnipeg. A key feature is its renovated basement, adding functional living space. There is no garage or pool.
The primary appeal lies in its contemporary construction within an established area, offering move-in readiness and newer systems compared to many neighbouring century-old homes. It suits buyers seeking a low-maintenance, modern home without the premium of a new subdivision, and who do not prioritize a large yard or private parking. A thoughtful perspective: the higher-than-average assessed value for the street suggests the market recognizes the value of its newer build, but the smaller lot size may represent a trade-off between modern interiors and outdoor space for future resale.
Section 2: Frequently Asked Questions
1. How does the smaller lot size impact the property?
The land is notably compact, ranking in the bottom 1% on its street for lot size. This means minimal yard maintenance but also limited private outdoor space. The appeal here is the modern home itself, not the land.
2. Why is the assessed value higher than many neighbours?
The assessed value ranks well above average for both the street and neighbourhood, primarily reflecting the home's relatively recent build year (2012). This suggests newer roofing, wiring, plumbing, and windows compared to the area's older housing stock.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or layout. This should be verified during a viewing to understand if it's a finished living space, a rental suite, or simply updated.
4. Is the lack of a garage a common feature here?
Many homes on Riverton Avenue and in Chalmers do not have garages, so this is not unusual for the area. Buyers should plan for on-street parking.
5. How does the last sale price relate to its current value?
The home sold for $290,000 in August 2022, which was above average for the neighbourhood at that time. This past sale supports the current assessed value and indicates a premium was paid for the home's modern attributes.