Property Overview: 220 Fernbank Avenue, Winnipeg
Key Characteristics & Appeal
This 1,237 sqft home, built in 2014, presents a compelling mix of modern convenience and value positioning in Winnipeg's Riverbend neighborhood. Its primary appeal lies in its relative newness; it ranks in the top 1% of homes in Riverbend by year built, suggesting lower immediate maintenance costs and more contemporary building standards compared to the neighborhood's predominantly 1990s housing stock. The living space is efficiently sized, offering more room than most on its street while sitting comfortably at the neighborhood and city average.
The property’s value proposition is nuanced. Its assessed value of $345k is below average for both the street and the broader Riverbend area, which could indicate a price advantage for a buyer. However, this is paired with a notably smaller lot size (2,128 sqft), ranking it near the bottom locally. This creates a clear profile: a modern, turn-key home on a compact, low-maintenance yard. It would suit first-time buyers, downsizers, or investors seeking a newer property without a premium price tag, particularly those who prioritize interior space and building age over extensive outdoor space.
Frequently Asked Questions
1. Is the below-average assessed value a red flag?
Not necessarily. It primarily reflects the home's smaller lot size and may align with its most recent sale price. It can represent a value opportunity, but a professional inspection is always recommended to rule out condition-related issues.
2. What does the very small lot size mean for me?
It translates to minimal yard maintenance, which is a benefit for those seeking a lock-and-leave lifestyle. The trade-off is limited private outdoor space for gardening, play, or expansion, making nearby parks and communal areas more important.
3. As a newer home (2014), what should I check?
While major systems like roofing or windows are likely in good shape, focus on the quality of finishes and any builder-grade components that may be nearing a replacement cycle, such as appliances, HVAC systems, or flooring.
4. How does the recent sale history influence the price?
The home sold between $300k-$350k in early 2023. This recent transaction provides a solid, real-world benchmark for current market value, making pricing more transparent compared to properties with older or no sales history.
5. Who are the typical neighbors?
The street and area feature homes built mostly in the 1980s and 1990s. You would be among the youngest homes on the block, potentially appealing to a mix of long-established residents and newer occupants attracted to the area's maturity.