Property Summary: 2 Knotsberry Bay, River Park South, Winnipeg
Key Characteristics & Appeal
This 1984-built home in River Park South presents a compelling mix of space, value, and established neighbourhood character. With 1,047 sqft of living area, the house itself is modest and typical for its street, but its true standout feature is the generous 6,965 sqft lot, which is significantly larger than most in the immediate area and neighbourhood. This above-average land size offers substantial potential for outdoor living, gardening, or future expansion.
The home’s assessed value of $435k sits above the street average, suggesting it is well-regarded relative to its direct peers, while remaining around the middle range for the broader Winnipeg market. Its appeal lies in this balance: it’s a property with a premium lot in a mature, family-friendly community, without a premium city-wide price tag. It would suit first-time buyers or downsizers looking for a manageable home with valuable outdoor space, or value-oriented buyers who see potential in the land itself. A thoughtful perspective is that while the living space is average, owning a larger parcel in a fully developed neighbourhood like River Park South is a rarity that cannot be replicated, offering a form of long-term scarcity value.
Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is approximately 30% larger than the average for both Knotsberry Bay and the wider River Park South neighbourhood, placing it in the top 15% of properties locally for land area.
2. The house seems smaller than the neighbourhood average. Is that a concern?
The living area is below the River Park South average but is very typical for its specific street. This can represent an efficient, lower-maintenance footprint on a premium lot, which may appeal to those prioritizing outdoor space or lower utility costs.
3. What is the property’s recent sales history?
Records indicate a sale between $250,000 and $300,000 in October 2019. For fully verified and exact historical sale figures, a manual lookup through the site’s service is required.
4. Is the assessed value a reliable indicator of market price?
The assessed value is for municipal tax purposes. While it places the property above average on its street, market conditions, property condition, and updates since assessment will ultimately determine sale price. It serves as a useful benchmark, not a guaranteed price.
5. The home was built in 1984. What should I consider?
Built during a period of consistent construction in the area, key components like the roof, windows, furnace, and major systems may be at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and any upcoming capital needs, which is typical for homes of this vintage.