Property Overview: 374 Riel Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 374 Riel Avenue presents a solid, mid-century property built in 1975. With 1,120 sqft of living space on a 6,053 sqft lot, its size is comfortably average for the Minnetonka neighbourhood and the wider city. The data suggests a key appeal lies in its balance and established nature. It’s not an outlier in size or value, which can indicate a stable, predictable investment in a mature community. The lot size is notably above the city-wide average, offering good outdoor space relative to many urban properties.
The home would suit practical, value-conscious buyers—perhaps first-time homeowners or downsizers—who prioritize a manageable footprint and a larger yard over a more modern or expansive interior. Its assessed value is proportionally lower than many city-wide comparables, which could point to a different valuation approach or property type in the area, making it worth a closer look for those comparing neighbourhoods. The fact it’s newer than most on its own street (ranking in the top 15%) is a subtle advantage, potentially meaning fewer immediate updates compared to neighbours.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was last sold between CA$350k–400k in 2023. Its current assessed value is $39,600. In Manitoba, assessed value for tax purposes is typically a fraction of market value and should not be directly compared to sale prices. The sale price range is the relevant indicator of market value.
2. Is the living space smaller than average?
At 1,120 sqft, it is slightly below the average for Minnetonka (~1,439 sqft) but close to the city-wide average (~1,342 sqft). It represents a more compact, efficient layout that may appeal to those seeking lower utility costs and less maintenance.
3. What does the "above average" year built ranking mean for this street?
Ranking in the top 15% for year built on Riel Avenue means this home (1975) is newer than 85% of its immediate neighbours. This could suggest newer building materials, systems, or design elements compared to other homes on the block.
4. How does the lot size impact potential?
The 6,053 sqft lot is above the city-wide average. This is a significant asset, offering more private outdoor space, room for gardening, or future expansion potential (subject to zoning bylaws) than many properties in Winnipeg.
5. Where can I see more detailed context for this property?
A neighbourhood analysis page is available, showing this home on a map alongside nearby houses with comparative data for year built, living area, assessed value, and lot size. This provides the clearest visual context for how it fits into the local area.