Property Overview: 278 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, land, and value within Winnipeg’s River East neighborhood. Its primary appeal lies in its generous 2,058 sqft living area, which ranks in the top 5% on its own street and top 10% in the wider area, offering significantly more interior space than most comparable homes. This is paired with an exceptionally large, private lot of over 13,000 sqft, a rare find that places it in the top 4% of the neighborhood and top 3% city-wide.
Built in 1966, the home is older than many on its street, suggesting a classic layout and potential for updates, which can be an opportunity for buyers looking to add personal value. The assessed value of $475k sits above local averages, reflecting the premium for the substantial lot and living space.
This property is ideally suited for buyers prioritizing indoor and outdoor space over a newer build. It fits growing families needing room to spread out, or anyone valuing a large yard for gardens, recreation, or future expansion. It’s a solid choice for a long-term home where the land itself is a key asset.
Frequently Asked Questions
1. How does the home’s age affect its value?
While the 1966 build date is older than many neighbors, the assessed value is strong because it’s calculated from the combined worth of the land and the structure. The premium here is clearly driven by the very large lot and above-average living area, which outweigh the age factor in the overall valuation.
2. Is the lot size typical for the area?
No, it’s exceptional. The lot is nearly double the neighborhood average and ranks in the elite tier city-wide. On Knowles Avenue, lots are generally larger, but this property’s parcel is still above the street average, offering uncommon privacy and space.
3. What can the 2020 sale price range tell me?
The previous sale in the CA$400k–450k range provides a benchmark. Given the current assessed value of $475k, it indicates market appreciation. For exact historical figures, you must request a manual lookup from the site, as precise MLS data is not published publicly.
4. Who might this home not suit?
Buyers seeking a modern, move-in-ready home with recent renovations may find the older build date requires more immediate updates or planning. Those with minimal yard maintenance preferences might also find the substantial lot size more of a burden than a benefit.
5. How does it compare to nearby homes for sale?
The provided comparisons show similar assessed values but often with less living area or smaller lots. For instance, 363 Headmaster Row has a similar square footage but a standard lot. This highlights 278 Knowles Avenue’s unique selling proposition: it combines larger interior space with a premier-sized property.