Property Overview: 240 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, value, and potential. Its primary strength lies in the land: with a lot size of over 21,800 sq ft, it ranks in the top 1% both in the River East neighborhood and citywide. This offers exceptional outdoor space, rare for an urban property. The living area (1,586 sq ft) and assessed value ($482k) are consistently above average for the street, area, and city, indicating a solid, well-sized home in a stable market context.
Built in 1956, the house is older than most on its street. This suggests a buyer should be prepared for potential updates but also recognizes the character and established landscaping that often come with a mature property. The appeal here is grounded in substance over flash—it’s a property for those who prioritize generous lot size and interior space within a established community. It would suit a buyer looking for a long-term family home with room to grow, garden, or entertain, and who sees the older vintage as a canvas for personalized updates rather than a drawback. The strong assessed value relative to area averages indicates a sound investment in a desirable location.
Frequently Asked Questions
1. How does the lot size compare to a typical city lot?
The property’s lot of 21,810 sq ft is exceptionally large. It is more than three times the average lot size in the River East neighborhood (~7,084 sq ft) and citywide (~6,570 sq ft).
2. The home was built in 1956. Is that a concern?
It is an older home than most on the street, where the average build year is 1976. This typically means systems like plumbing, electrical, and the roof may need evaluation or updating, but it also often comes with mature trees and established neighborhoods.
3. Is the assessed value a good indicator of the selling price?
The assessed value ($482k) is for municipal tax purposes and is a useful benchmark. It ranks in the top 25% on its street and top 15% in River East, suggesting the property is considered high-value for the area. Market conditions, property condition, and buyer demand will ultimately determine the sale price.
4. What does the previous sold price tell us?
Records show it sold between $350k-$400k in July 2017. Given the increase in assessed value since then and market trends, this historical figure highlights the property’s appreciation potential but should not be used alone to predict a current price.
5. How can I get the exact historical sold prices?
The website does not display exact MLS sold figures due to industry rules. You can request the exact sold price history by emailing the site directly; they will provide a manual lookup.