Property Overview: 229 Douglas Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, value, and potential on a generous lot in Winnipeg's River East neighborhood. Its primary appeal lies in its above-average land size—a 8,583 sqft lot that ranks in the top 20% on its street and top 9% city-wide—offering rare room for expansion, gardening, or outdoor activities. The living area (1,260 sqft) is notably spacious for the immediate street, ranking in the top 10% among nearby homes. Built in 1947, the property is older than most in the area, which suggests classic character but also indicates that updates and systems maintenance should be a key consideration for buyers.
The assessed value of $325k sits below the neighborhood average, positioning this as a more accessible entry point into River East. This combination suits practical buyers looking for a solid footprint and yard space who are prepared for the stewardship of an older home. It’s a fit for those who value lot size over new construction, and who see potential in a property that offers more land than many modern offerings. The recent sale in mid-2024 within the $400k-$450k range reflects a market value significantly above its assessment, highlighting its desirability.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its 1947 construction—older than most homes on the street and in the neighborhood—prospective buyers should budget for potential updates to roofing, plumbing, electrical, and insulation. A thorough inspection is essential.
2. How does the sold price compare to the assessed value?
The home sold for between $400,000 and $450,000 in July 2024, which is well above its $325,000 assessed value. This is common and reflects current market conditions rather than the city's assessment for tax purposes.
3. What are the advantages of such a large lot?
The 8,583 sqft lot is a standout feature, offering ample space for additions, a large garden, recreational space, or future development like a garage or workshop, subject to city bylaws.
4. How does this home compare to others in River East?
The living space is about average for the broader neighborhood, but the lot size is significantly above average. The assessed value is below the neighborhood average, which can mean lower property taxes relative to nearby homes with similar market values.
5. Where can I get the exact historical sold price data?
The provider notes that exact sold prices are not displayed publicly due to industry rules. You must request the exact figures via email for a manual lookup, as the data presented is from non-MLS sources.