Property Overview
This 890 sqft home at 256 Fernbank Avenue in Winnipeg's Riverbend neighborhood presents a specific value proposition. Built in 1991, it sits on a slightly larger-than-average lot for its street at 4,289 sqft. Its assessed value of $379k is consistently around the average mark when compared to the street, neighborhood, and city. The home last sold between $250k-$300k in early 2016.
Key Characteristics & Appeal
The primary appeal of this property is its position as a competitively priced entry point into a stable neighborhood. While the living space is notably below average for the area, this is reflected in its assessment, which aligns with broader market averages. The lot size is a relative strength on this particular street, offering potential for outdoor space or future expansion that some neighboring properties lack.
It would suit first-time buyers or downsizers seeking a lower-maintenance footprint without sacrificing yard space. It’s a practical choice for those who prioritize location and lot potential over immediate square footage, and who are comfortable with a home that may require updates typical of its age. A thoughtful perspective is that its "below average" size could mean lower utility costs and property taxes relative to larger homes in the same assessment bracket, offering efficiency.
Frequently Asked Questions
1. Is this home a good value compared to others on the street?
Its assessed value is very close to the street average. While the house itself is smaller than most on Fernbank Avenue, it compensates with a larger-than-average lot for the street, which may contribute to its valuation.
2. What does the sold price history tell us?
The home sold for between $250,000 and $300,000 in January 2016. This historical data provides a benchmark, but market conditions have likely changed significantly since then. The current assessed value of $379k offers a more recent point of comparison.
3. How does it rank for its size in the broader area?
The living area of 890 sqft ranks below average for the Riverbend neighborhood (top 93%, meaning only 7% of comparable homes are smaller) and for the city overall. This is the home's most defining characteristic.
4. Is the lot size a significant advantage?
On Fernbank Avenue, yes—the lot is larger than the street average. However, within the wider Riverbend neighborhood, the lot is below average. The advantage is primarily localized to its immediate block.
5. How can I get the exact past sold price?
The site provides sold price ranges publicly. Due to industry rules, exact MLS sold figures are not displayed. You can request the exact historical sold price by emailing the site directly for a manual lookup.