Property Overview: 248 Neil Avenue, Winnipeg
Key Characteristics & Appeal
This home at 248 Neil Avenue in Munroe West presents a solid, value-oriented opportunity. Built in 1949, it is a typical post-war home for its immediate street, but its true appeal becomes clear in a wider context. With 1,144 sqft of living space, it offers more room than most homes in the broader Munroe West area. Its most standout feature is the 6,616 sqft lot, which places it in the top 7% of the neighbourhood for land area, suggesting generous outdoor space and potential not commonly found on newer, denser lots.
The assessed value of $322k is notably above the Munroe West average, indicating perceived value, yet remains below the city-wide average for homes of comparable size. This positioning suggests you are paying a premium for the specific location and lot size within a desirable neighbourhood, rather than for sheer square footage. The home’s recent sale history shows a significant value increase between 2017 and 2022, reflecting strong market momentum in the area.
This property would suit a buyer looking for a established neighbourhood character with above-average outdoor space. It’s ideal for someone who values a larger yard for gardening, recreation, or future expansion more than a brand-new home. It would also appeal to a pragmatic buyer who understands that the value here is anchored in the land and location within Munroe West, making it a potentially stable long-term investment.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is a key feature. At 6,616 sqft, it is significantly larger than the Munroe West average (~4,815 sqft), placing it in the top 7% of the neighbourhood. This offers more privacy and space than most nearby homes.
2. Is the assessed value in line with the area?
The $322k assessment is above the Munroe West average but around the average for Neil Avenue itself. This suggests the property is valued appropriately for its specific street, which may be a more desirable pocket within the neighbourhood.
3. What does the sale history indicate?
The home sold between $250k-$300k in 2017 and then between $350k-$400k in 2022. This represents substantial appreciation over that five-year period, pointing to strong demand and rising values in this location.
4. How much work might a 1949 home need?
As a home nearing 80 years old, prospective buyers should budget for updates to major aging systems like plumbing, electrical, or the roof. A thorough inspection is essential to understand the condition behind the walls.
5. Where can I get verified sale price data for this home?
The site provides estimated price ranges. For exact, verified sale figures, you must request them directly via email, as this platform does not display MLS data due to industry regulations. They provide this data manually upon request.