97 Riel Avenue

Property Summary: 97 Riel Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a compelling value proposition centered on its generous lot. Built in 1965, the 1,104 sqft house sits on a 10,603 sqft property—a standout feature that ranks in the top 5% for land size citywide and is significantly larger than most lots on its street and in the Minnetonka area. This offers substantial outdoor space for gardening, recreation, or future expansion.

The appeal lies in this land-to-building ratio. While the living area is modest and typical for the neighborhood, the assessed value is strong relative to immediate peers, suggesting the property holds its worth well. Its recent sale history indicates steady market interest. This property would best suit a buyer who prioritizes land over a large existing footprint—ideal for someone looking for a manageable-sized home with room to grow outdoors, or for a buyer who sees long-term potential in the valuable lot itself. It’s a practical choice for those comfortable with a home from the 1960s that may require updates, in exchange for one of the larger parcels in the community.

Section 2: Frequently Asked Questions

1. How does the lot size compare to others?
The lot is a key asset. At over 10,600 sqft, it is notably larger than the average lot on Riel Avenue (~7,000 sqft) and ranks in the elite top 5% for size when compared to all properties across Winnipeg.

2. Is the house smaller than average for the area?
The living space (1,104 sqft) is somewhat below the average for comparable homes in the broader Minnetonka area. However, it is closer to the average when compared specifically to other homes on Riel Avenue itself.

3. What does the assessed value tell us?
The assessed value of $44,200 is above average for the street and ranks well citywide. This often reflects the value of the substantial lot and suggests the property is assessed favorably compared to many immediate neighbors.

4. When was it last sold, and for how much?
The property sold in 2023 for an estimated $400k-$450k, and prior to that in 2020 for an estimated $350k-$400k. Exact sale prices can be requested from the listing provider.

5. What might be a less obvious consideration?
The home was built in 1965, making it older than most in the Minnetonka area. Buyers should factor in the potential for age-related maintenance or updates, which is often balanced by the character and established neighborhood feel of an older home.