Property Summary: 519 Riverton Avenue, Winnipeg
Key Characteristics & Appeal
This home is a classic one-and-three-quarter storey house built in 1907, offering a blend of historic charm and practical updates. Its key features include a renovated basement and a detached garage. With just over 1,000 square feet of living space, it sits on a modest, manageable lot.
The primary appeal lies in its position as a solid, average-value home within its immediate neighborhood of Chalmers and on Riverton Avenue itself. The data shows its living area, assessed value, and lot size are all competitive and typical for the area, suggesting it’s priced appropriately without premium or discount. For a city-wide perspective, it represents a more affordable entry point, with metrics well below Winnipeg averages, which can be attractive for budget-conscious buyers.
This property would suit a first-time homebuyer or a practical investor looking for a character home in an established neighborhood without the upkeep of a large lot. Its renovated basement adds functional living space, and its size is manageable. A thoughtful perspective is that its "averageness" in the local context is a strength—it indicates stability and reduces the risk of overpaying for the area. The older age (1907) appeals to those who appreciate heritage but should attract buyers comfortable with the maintenance that comes with it.
Frequently Asked Questions
1. How does this home’s value compare to the area?
The home’s assessed value is very typical for both Riverton Avenue and the broader Chalmers neighborhood, ranking around the 40th-42nd percentile. This means it’s fairly and squarely priced within its local market context.
2. Is the lot size a disadvantage?
The lot is smaller than many on its street and significantly smaller than the city average. This translates to less outdoor maintenance, which can be a benefit for those seeking a low-maintenance yard, but offers less space for expansions, gardens, or large outdoor gatherings.
3. What does the sale history indicate?
The home sold previously in 2017 for $198k and in 2021 for $241k. This shows a period of appreciated value, and the current assessed value of $220k aligns with this recent history, suggesting a stable valuation.
4. Who might this home not suit?
Buyers seeking a modern, large home on a spacious lot, or those wanting a property that stands well above neighborhood averages, would likely find this home too modest. Its size and age cater to different priorities.
5. Are there similar properties nearby for comparison?
Yes, the directly adjacent properties (511-525 Riverton Ave.) provide immediate context for the streetscape. The listing also shows several homes city-wide with the same $220k assessed value, useful for comparing what a similar budget can afford in different Winnipeg neighborhoods.