Property Overview & Key Characteristics
This 1984-built home at 173 Pentland Street in Winnipeg's River East neighborhood presents a practical and affordable entry point into the market. At 1,021 sqft, its living space is modest, ranking below average for both the neighborhood and the city, but is typical for the street itself. The lot size is notably compact at just under 3,000 sqft, which is significantly smaller than most properties in the wider area.
Its primary appeal lies in its value proposition. With an assessed value of $263k, it sits well below the neighborhood and city averages, offering one of the most affordable options in River East. The home is also newer than many in the area, which can suggest updated building standards and potentially lower immediate maintenance needs. This combination makes it a straightforward, lower-barrier option.
This property would best suit first-time buyers or investors seeking a manageable, cost-effective holding. The compact lot means less yard work, appealing to those who prefer low-maintenance living. It’s less suited for those needing ample indoor or outdoor space, or for buyers prioritizing long-term value growth primarily through land size.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While the assessed value of $263k is a useful benchmark for municipal taxes, market conditions ultimately determine sale price. The home last sold between $200k-$250k in 2017. Given its value is well below area averages, it may attract competitive interest, but a professional appraisal and market analysis are recommended.
2. How does the smaller lot size impact me?
The smaller lot (2,981 sqft) means minimal yard maintenance, which is a benefit for those short on time. However, it also limits potential for expansions like large decks, additions, or pools. It's worth checking local zoning bylaws for any development restrictions.
3. The home is newer than many nearby. Does that mean fewer issues?
While a 1984 build is relatively newer for the area, suggesting potentially newer components like wiring or plumbing, the condition depends entirely on maintenance and updates over the last 40 years. A thorough home inspection is crucial regardless of the build year.
4. What are the implications of the living area being below average for the neighborhood?
The below-average square footage (1,021 sqft vs. a neighborhood average of 1,399 sqft) indicates a cozier, more efficient layout. This often translates to lower utility costs. Buyers should ensure the floorplan meets their spatial needs, as expanding could be challenging on the smaller lot.
5. How can I find out the exact historical sale prices?
The site provides sold price ranges for context. Due to industry regulations, exact MLS sale figures are not displayed here. You can request the full transaction history and exact sold prices via email through the provided site function for a manually verified report.