Property Overview: 50 Knotsberry Bay, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated River Park South home presents a compelling blend of space, location, and established value. Built in 1984, its key strength lies in its generous 7,857 sqft lot, which is notably larger than most in the immediate area, offering ample outdoor potential. With 1,423 sqft of living space, the home provides roomy, functional accommodation that aligns with neighborhood and city averages.
The appeal is rooted in its above-average positioning within a mature and convenient community. The assessed value of $491k reflects a premium relative to many nearby homes, suggesting desirable attributes not fully captured by square footage alone, such as the premium lot size or possible upgrades. It suits buyers looking for a established neighborhood character with room to garden, entertain, or expand outdoors. It’s a practical choice for those who value a bit more land over a newer build, and for buyers who appreciate a home that holds a strong, above-average value position on its street and within the wider city.
Section 2: Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is a standout feature. At nearly 7,860 sqft, it is significantly larger than the street average (~5,350 sqft) and ranks in the top 4% on Knotsberry Bay for land area.
2. Is the asking price in line with recent sales?
The home last sold in late 2020 for an estimated $400k-$450k. The current assessed value is $491k, which is above average for the street. A buyer should investigate recent comparable sales and any updates to the property since 2020 to understand current market value.
3. What does the "above average" assessed value indicate?
It suggests the municipal assessment sees greater value here than in many comparable homes. This can be due to the large lot, property condition, or improvements. It’s important to note that assessed value is for tax purposes and is not a direct market appraisal.
4. Is the living space considered large for the area?
At 1,423 sqft, the living area is very close to the neighborhood average (1,410 sqft) and slightly above the city average. It offers standard family-sized accommodation for River Park South, not unusually large or small.
5. The home was built in 1984. What should I consider?
Homes of this age are common in the area. It falls within a typical era for the neighborhood, so potential renovations (like roof, windows, or mechanical systems) may follow a predictable lifecycle. A thorough inspection is advised to understand the condition and any modernization that may have been done.