Property Overview & Key Characteristics
This home at 39 Riverbend Avenue presents a specific and practical value proposition. Its key characteristic is a compact 880 sqft living space, which is notably smaller than most homes on its street and in the wider Minnetonka area. However, this is balanced by a generously sized lot of 6,838 sqft, which ranks well above average city-wide. Built in 1973, it is one of the newer homes on its block. The assessed value is modest and sits around the average for the immediate neighbourhood.
The appeal lies in its efficiency and potential. The lower square footage suggests manageable upkeep and heating costs, while the large lot offers valuable outdoor space, room for gardening, or future expansion—a rarity in many city neighbourhoods. Its recent sale in the $300k-$350k range (2023) indicates it is positioned as an accessible entry point into the market.
This property would best suit first-time buyers or downsizers seeking a lower-maintenance home without sacrificing yard space. It’s also a sensible fit for pragmatic investors or handy buyers who see the potential in the land size and newer construction year relative to the street, versus the work needed to update a smaller interior.
Frequently Asked Questions
1. Is the house too small?
At 880 sqft, the living area is significantly below the local average. It would suit individuals, couples, or small families comfortable with efficient, cozy living. The trade-off is the larger-than-average lot.
2. What does the assessed value mean for my property taxes?
The assessed value of $37,300 is used for municipal tax calculation. It is around average for the street but below the area average, which may result in relatively lower property taxes compared to larger homes in Minnetonka.
3. How does the large lot size benefit me?
The 6,838 sqft lot is a standout feature, offering ample private outdoor space. This provides room for recreation, gardening, or even future additions like a shed, deck, or garage, subject to local zoning.
4. The home sold recently in 2023. What does that indicate?
The sale 2-3 years ago within the $300k-$350k range provides a solid, recent benchmark for market value, suggesting a stable entry point for the area without the premium of a long-held property.
5. How does the 1973 build year compare to neighbours?
Built in 1973, this home is newer than most on Riverbend Avenue, where the average build year is 1958. This could mean relatively newer major systems (like plumbing and electrical) compared to neighbouring houses.