Property Overview: 365 River Road, Winnipeg
Key Characteristics & Appeal
This home at 365 River Road is a practical, mid-century property built in 1975, offering a balance of space and value. With 1,200 square feet of living area, it is a more compact option on its own street but sits close to the city-wide average, suggesting an efficient layout. Its lot size of 6,792 sqft is notably above average compared to the rest of Winnipeg, providing valuable outdoor space that is less common city-wide.
The appeal here is grounded in value and potential. The home's assessed value is below average for River Road, which could indicate an opportunity for buyers comfortable with a property that may require updates or personalization. It suits first-time buyers seeking a foothold in the area, downsizers looking for a manageable home with a generous yard, or value-oriented investors. A thoughtful perspective is that while the home is modest relative to its immediate neighbours, its lot size offers a premium of private outdoor space that is increasingly rare, allowing for gardens, recreation, or future expansion.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No, the assessed value is used for calculating property taxes and is determined by the municipality. Market value is what a buyer is willing to pay and can be higher or lower based on condition, market trends, and specific buyer demand.
2. How does the home's size compare practically?
At 1,200 sqft, it is smaller than many homes on River Road but near the Winnipeg average. This often means efficient, manageable living spaces with lower utility costs, but it's wise to consider if the layout meets your specific needs for bedrooms, storage, and living areas.
3. What does the above-average lot size mean for me?
An above-city-average lot of 6,792 sqft provides more private outdoor space than many Winnipeg homes. This is a significant asset for privacy, gardening, children or pets, and potential future additions like a shed, deck, or expanded parking.
4. The home was last sold between 2017-2025. How can I find the exact price?
The exact sold price is not publicly displayed due to local regulations. You can request it directly via the "Get exact sold price history" feature on the listing page. The service provider will email you the accurate figure, typically by the end of the same business day.
5. What might "below average" assessed value on the street indicate?
This suggests the property is assessed lower than many neighbours on River Road. This can be due to a variety of factors, including the home's smaller size, age, condition, or specific features. It's a key point to discuss with a real estate agent to understand the implications for both property taxes and purchase price.