Property Overview: 90 Riel Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 90 Riel Avenue in Minnetonka presents a compelling case based on its land and value. Built in 1975, the 1,117 sqft house sits on a notably large 11,284 sqft lot. This lot size is a standout feature, ranking in the top 6% on its street and the top 4% city-wide, offering significant outdoor space and potential that is increasingly rare.
The appeal lies in this land-to-value proposition. The home's assessed value is strong for its immediate street, ranking above average. A recent sale in the $450k-$500k range suggests a premium is being paid for the property's overall package, likely driven by the lot. The house itself offers average living space for the area, making it a solid, functional home anchored by an exceptional piece of land.
This property would suit a buyer who prioritizes outdoor space for gardening, recreation, or future expansion over a large interior. It’s also a smart fit for value-oriented buyers who understand that land is a permanent asset, and a larger lot in a mature neighbourhood often holds long-term appreciation potential. It may appeal to those willing to live in an average-sized home to secure a much larger-than-average yard.
Section 2: Frequently Asked Questions
1. What is the most significant feature of this property?
The lot size is the defining characteristic. At over 11,000 sqft, it is substantially larger than most lots in Winnipeg, offering exceptional privacy and space.
2. The house seems average in size. Is the price mainly for the land?
Recent sale data indicates the property commands a premium. While the home is functional, the market price reflects the combined value of the liveable house and the scarce, valuable land it sits on.
3. How does the 1975 build year affect the home?
A 1975 build is newer than many homes on the street and in the area. This can mean updated construction standards compared to mid-century homes, but a 50-year-old property will still require due diligence on major systems like roof, windows, and plumbing.
4. Are there any obvious concerns from the data?
The living area is modest compared to the area average. Buyers seeking abundant interior space may find it compact. The value is in the land, so the home may require modernization or adjustments to suit contemporary needs.
5. Who would this property not suit?
It may not be ideal for buyers who prioritize a large, move-in-ready interior or who do not want the responsibility and maintenance that comes with a very large yard. It’s best for those who see the land as an asset.