Property Overview
240 Fernbank Avenue is a 936 sqft bungalow built in 1991, situated on a 4,290 sqft lot in Winnipeg's Riverbend neighborhood. With an assessed value of $348k, it presents a specific value proposition within its market.
Key Characteristics & Appeal
This home’s primary appeal lies in its efficiency and relative value. While its living space is below the local averages, it sits on a lot that is larger than most on its street, offering valuable outdoor space potential in a neighborhood where lots are typically smaller. The 1991 build date is newer than the Winnipeg average, suggesting a potentially more modern construction than many city-wide options.
It would suit first-time buyers or downsizers seeking a manageable, single-level home in a stable neighborhood without a premium price tag. The data indicates you are paying less for the structure but getting a better-than-average parcel of land for the immediate area—a trade-off that can appeal to those valuing yard space over interior square footage. Its last known sale was between $250k-$300k in 2020, indicating a history of being a more affordable entry point into the area.
Frequently Asked Questions
1. Is this home a good value compared to others on the street?
The assessed value is below the street average, while the lot size is above average. This suggests the value is more in the land than the structure, which can be attractive for future expansion or outdoor living.
2. How does the size of this home compare to the area?
At 936 sqft, the living area is below average for Riverbend and for Fernbank Avenue itself. This makes it a more compact, efficient layout suited for smaller households.
3. What is the potential for future expansion or renovation?
The lot size, which is larger than others on the street, provides a tangible asset. This could allow for an addition, a large garage, or extensive landscaping, subject to city bylaws.
4. How current is the sold price information?
The last recorded sale was in August 2020. For fully verified, exact historical sold prices and a complete transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS.
5. Is the 1991 build date a positive?
Yes, especially city-wide. Being newer than about 78% of comparable homes in Winnipeg implies fewer issues associated with aging infrastructure, though a specific inspection is always recommended.