Property Overview & Key Characteristics
This home at 338 Riel Avenue presents a practical opportunity in Winnipeg's Minnetonka neighbourhood. Its key appeal lies in its balance: a city-wide above-average lot size of over 6,000 sqft offers valuable outdoor space and potential, while its assessed value sits solidly around the middle range for the area. The 988 sqft living area is notably compact compared to many nearby homes, suggesting a more efficient, manageable footprint. Built in 1973, the house is of a typical vintage for the street and area.
This property would best suit first-time buyers or downsizers seeking a lower-maintenance yard without sacrificing lot privacy, and who prioritize value and location over sheer interior size. It’s a home for those who see potential in the land and a solid foundation, comfortable with a cozier interior layout that may encourage simpler living or thoughtful renovation over time.
Frequently Asked Questions
How does the home's size compare to others?
The living area is compact at 988 sqft, placing it in the smaller 20-25% of homes on the street, in Minnetonka, and across Winnipeg. This indicates a more efficient layout.
Is the assessed value in line with the neighbourhood?
Yes. The $400k assessment is consistently around the average mark—not among the highest or lowest—when compared to the immediate street, the wider Minnetonka area, and the city as a whole.
What is the significance of the lot size?
While the lot is around average for Riel Avenue, it ranks in the top 29% city-wide. This means you get more outdoor space than most properties in Winnipeg, which is a key asset for privacy, gardening, or future expansion.
What can past sale data tell us?
The home sold between $300k-$350k in 2017. The current assessment of $400k reflects market changes since then. For the exact historical sale price, you can request details via email from the listing service.
Who are the closest comparable properties?
The most direct comparisons are the homes immediately adjacent on Riel Avenue. For homes with a similar assessed value ($400k), several examples can be found in neighbourhoods like Elmhurst and Varsity View, offering perspective on what that valuation buys in different areas.