Property Overview: 221 Douglas Avenue, Winnipeg
Key Characteristics & Appeal
This 1960-built home in River East presents a compelling value proposition centered on its land. The house itself, at 975 square feet, is modest and typical for its immediate street but is smaller than many in the wider neighborhood. Its assessed value of approximately $331,000 is similarly average for the street but sits below the neighborhood average, suggesting the home may offer a more accessible entry point into the area.
The standout feature is the property’s lot. At over 11,500 square feet, it is exceptionally large, ranking in the top 5% on its street and city-wide. This transforms the property’s narrative from a standard bungalow to one with significant outdoor potential. The appeal lies in this balance: a solid, affordable home on a premium piece of land. It would suit a practical buyer who values space and privacy for gardening, recreation, or future expansion over immediate square footage. It’s also a strategic fit for those looking to invest in a neighborhood while acquiring an asset where the land itself holds substantial value.
Frequently Asked Questions
1. Is the house in need of major updates?
Built in 1960, the home is of an age where key systems (roof, furnace, plumbing) may be nearing or past their typical lifespan. A thorough inspection is advised, but its average condition for the street suggests it has been maintained adequately over time.
2. How does the sold price range relate to the assessed value?
The property last sold for an estimated $350,000-$400,000 in late 2022. The current assessed value of $331k is a municipal valuation for tax purposes and often lags behind market trends. The past sale price indicates buyers have recently valued it above its assessment.
3. What are the implications of such a large lot?
Beyond privacy and space, a lot of this size can mean higher maintenance (lawn care, snow clearing) but also offers unique opportunities not found in newer subdivisions, such as adding a garage, workshop, or even subdividing the lot, subject to city zoning approval.
4. How does the living space compare to nearby homes?
The living area is very close to the average (988 sq ft) for Douglas Avenue, meaning it feels consistent with its direct neighbors. However, it is notably smaller than the broader River East average, so buyers seeking abundant indoor space may find it compact.
5. Where can I get the exact historical sold prices?
Due to industry regulations, exact MLS sale figures are not published on this site. You can request the full, verified transaction history by email, and it will be provided manually at no cost and without marketing follow-up.