Property Summary: 125 Riel Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 125 Riel Avenue in Minnetonka presents a practical opportunity centered on its generous lot. Built in 1970, the 1,037 sqft house offers a manageable footprint, while its 6,957 sqft land area stands out as notably larger than many city lots. The assessed value of $370k is positioned around the average for its immediate street but sits below the average for the broader Minnetonka area, suggesting a value proposition tied more to the land than to an oversized home.
The primary appeal lies in its above-average outdoor space for the city, offering room for gardening, expansion, or simply more privacy—a feature becoming increasingly rare. It suits a first-time buyer or downsizer who prioritizes yard space over extensive interior square footage, or an investor/renovator who sees potential in the land ratio. It’s a property for those comfortable with a home of average age and size for the neighbourhood, who recognize that the value may be rooted in the underlying land asset and future potential rather than in a recently updated or expansive interior.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others?
The living area of 1,037 sqft is below the average for both Riel Avenue and the Minnetonka area, indicating a more compact home compared to many neighbours.
2. Is the assessed value high for the area?
The $370k assessment is around average for Riel Avenue specifically but is below the average for the wider Minnetonka neighbourhood, which may indicate a valuation opportunity.
3. What is the standout feature of this property?
The land area is a key feature. At nearly 7,000 sqft, the lot ranks in the top 25% on its own street and top 17% city-wide, offering more outdoor space than many comparable properties.
4. When was it last sold and for how much?
Records indicate a sale between 2020-2025 for an estimated price between CA$300k and $350k. The exact sale price can be requested directly from the listing service.
5. What does the "below average" year built ranking mean?
Built in 1970, the home is slightly newer than the average on Riel Avenue but is considered older than most homes in the broader Minnetonka area, placing it in the top 81% (where a lower rank is newer). This suggests many area homes have been built more recently.