Property Overview: 733 River Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 733 River Road in Minnetonka is a compact, single-story property built in 1976. With 904 square feet of living space on a 5,176 sqft lot, it is notably smaller than most homes on its street and in the immediate area. Its assessed value is modest, especially compared to its neighbourhood, but aligns more closely with the Winnipeg city-wide average.
The primary appeal lies in its value proposition and manageability. It represents an affordable entry point into a mature neighbourhood, ideal for first-time buyers, downsizers, or investors seeking a lower-maintenance property. The lot, while smaller than others on River Road, is still a useable size for a patio or garden. A thoughtful perspective is that this home’s below-average metrics for the street could signal an opportunity for value addition through updates or an expansion, relative to the higher-valued homes surrounding it. It suits a practical buyer who prioritizes location and fiscal efficiency over square footage, and who may see potential in a home that stands out for its modesty on a street of larger properties.
Section 2: Frequently Asked Questions
1. How does the sold price compare to the assessed value?
The home sold in 2024 for an estimated $400k-$450k, which is significantly higher than its $34,600 assessed value. This is common, as assessed value for tax purposes often lags behind market value, which is determined by recent sales.
2. Is the home significantly older than others in the area?
No, it’s actually newer than average for River Road. Built in 1976, it ranks in the top 29% for year built on its street, meaning most neighbours’ homes are older.
3. What does the "ranking" data mean for the lot size?
The data shows the lot is smaller than most on River Road (ranking 162 out of 180, or top 90%). However, compared to all homes in Winnipeg, its lot size is very close to the city-wide median (top 51%), offering a more standard urban parcel.
4. Who would benefit from requesting the exact sold price history?
Receiving the exact price (provided via email upon request) is most useful for buyers or sellers conducting a precise comparative market analysis, as it removes the estimate range and provides a solid data point for valuation.
5. Are the nearby listed properties with the same assessed value similar homes?
Not necessarily. The listed addresses with identical assessed values ($34.60k) are in different neighbourhoods (like Varsity View and Elmhurst). This highlights how assessment is a municipal formula and doesn't directly compare home condition, style, or market demand between different areas.