Property Overview & Appeal
This well-situated one-storey home on a generous, nearly 6,000 sqft lot in River East presents a solid opportunity in Winnipeg's residential market. Its key characteristics include a renovated basement and an attached garage, with a living area of 1,450 sqft that sits above average for both the neighbourhood and the city. Built in 1976, the home is neither the newest nor the oldest on the block, positioning it as a established property with mature landscaping. The municipal assessed value of $410k aligns it with a mid-range price point for the area.
The appeal lies in its balance and practicality. It offers more interior space and a larger lot than many comparable homes in River East, providing room to grow or enjoy outdoor living without the premium of a brand-new build. The renovated basement adds immediate functional living space. This property would suit first-time buyers looking for a move-in-ready home with space to expand, or downsizers seeking the convenience of a single-level layout without compromising on yard size or storage (thanks to the basement and garage). It’s a home for those who value neighbourhood character and lot size over a modern build date.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The $410k assessment is a municipal valuation for tax purposes. In Winnipeg, selling prices can be above, at, or below this figure depending on market conditions, the home's updated condition, and buyer demand. It serves as a useful benchmark but not a guaranteed sale price.
2. What does the "ranking" data for the street and neighbourhood mean?
These rankings compare this specific property against others on the same street, in River East, and across Winnipeg for metrics like lot size and year built. For example, being in the "Top 48%" for lot size on its street means its lot is larger than 48% of its immediate neighbours, indicating a relative strength in outdoor space.
3. Is a 50-year-old home a concern?
While the core structure is from 1976, the listing notes a renovated basement, suggesting some key updates. The age implies potential future investments in major systems (like roof, windows, or plumbing) should be factored into a buyer's planning, but it also often means a more established, tree-lined street.
4. Who might this property not suit?
Buyers seeking a modern, open-concept layout or who prefer a brand-new home with all contemporary fixtures and warranties may find the 1976 build requires more compromise or update projects. It may also be less ideal for those who prioritize a top-tier, newer ranking on their specific street.
5. What is the significance of the lot size?
At 5,997 sqft, the lot is substantially larger than many in urban Winnipeg. This isn't just about grass; it translates to greater privacy, potential for additions like a deck or shed, gardening space, and room for children or pets to play. In mature neighbourhoods, this is a valued and finite asset.