Property Overview: 23 Faraway Lane, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a solid, modern offering in Winnipeg's River Park South neighborhood. Built in 2009, it is newer than most homes in the city and the immediate area, suggesting updated building standards and potentially lower near-term maintenance. With 1,491 sqft of living space, it sits comfortably in the middle range for the neighborhood—neither the largest nor the smallest, offering practical space for daily life.
The primary appeal lies in its strong value positioning. The assessed value of $534k is notably above average for both Winnipeg and the River Park South area, yet the home recently sold within a price range that placed it in the top tier of sales. This indicates a property that holds its value well relative to its surroundings. The lot size is slightly smaller than the street average but is consistent with the neighborhood, offering a manageable yard.
This property would best suit pragmatic buyers seeking a move-in ready home in a stable suburban community. It’s ideal for young families or professionals who value a newer construction date within an established area, and who appreciate a home that performs well on key metrics like assessed value without being an outlier in size or lot footprint. It represents a balanced choice—offering modernity and value retention without the premium or upkeep of a brand-new or custom-built home.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to its recent sale price?
The assessed value is $534k. It sold in early 2025 for an estimated $550k-$600k, a price that ranked in the top 7% for the neighborhood and top 9% city-wide. This suggests the market price confirmed or exceeded its assessed valuation.
2. Is the living space considered large for the area?
At 1,491 sqft, it is slightly above the city-wide average but close to the neighborhood average. On its own street, it is somewhat smaller than the average home. It offers standard, functional space rather than expansive square footage.
3. What does the 2009 build year mean for a buyer?
Built in 2009, this home is newer than approximately 88% of comparable homes in Winnipeg and 89% in River Park South. This typically implies more modern construction materials, systems (like plumbing and electrical), and likely better energy efficiency than older stock, potentially deferring major renovation costs.
4. How does the lot size impact the property?
The lot of 4,828 sqft is slightly below the street average but very close to the neighborhood average. It provides a typical suburban yard space for gardening or recreation, but may not suit those seeking an exceptionally large or private outdoor area.
5. Where can I get the exact historical sale price?
The provided sold price is an estimated range. Due to data source rules, exact sale figures are not published online here. You can request the exact sold price history via email from the site, and they will provide a manual lookup.