Property Overview: 217 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous, above-average lot size. While the 1,394 sqft living area and 1947 build date are typical for its street in River East, the property stands out for its 12,119 sqft land parcel. This lot size ranks in the top 6% within the neighborhood and an elite top 3% city-wide, offering significant outdoor space that is increasingly rare. The assessed value of $339k is notably below the street average, suggesting a potentially accessible entry point for the area.
The appeal lies in the balance of a modest, established home on a substantial piece of land. It suits a practical buyer who values space and potential over immediate modern finishes. This could be ideal for someone with long-term renovation or expansion plans, gardening enthusiasts, or a family seeking ample private outdoor space. It’s a property where the true value may be less in the current structure and more in the possibilities afforded by the lot.
Frequently Asked Questions
1. Why is the assessed value below average for the street?
The assessed value likely reflects the home’s older age (1947, ranking in the top 97% oldest on the street) and potentially its modest size relative to the lot. Assessments typically consider the current state and characteristics of the property, not future potential.
2. What does the lot size actually mean for a buyer?
Beyond a large yard, a lot of this scale (over a quarter-acre) offers uncommon flexibility for a city property. It allows for additions like a sizable garage, workshop, or garden, and provides greater privacy and distance from neighbors compared to standard lots.
3. How reliable is the last sold price data shown?
The site notes sold prices are from public data, not the MLS, and are shown in a range (CA$250k–300k for 8/2019). For fully verified and exact historical figures, you must request a manual lookup via email, as industry rules prevent displaying MLS records directly.
4. The home is older than most nearby. What should I consider?
An older home like this requires a focused inspection of foundational elements, roof, wiring, and plumbing. While it may need updates, its below-average assessment could provide a budget to address these systematically. The established neighborhood often means mature trees and settled streets.
5. Are the "rankings" a good measure of value?
They provide context, not a verdict. For instance, a "below average" rank for year built is expected on an older street. The key insight is the disparity: the lot size ranks exceptionally high while the assessed value ranks lower, highlighting the property’s unique structure-to-land ratio.