Property Overview: 31 Spruce Thicket Walk, Winnipeg
Section 1: Key Characteristics & Appeal
This 1987-built home in Riverbend stands out primarily for its generous lot size and above-average living space. With 1,547 sqft of living area, it offers more room than most comparable homes on its street and in the wider neighborhood. The most distinctive feature is the 7,508 sqft lot, which ranks in the top 6% on Spruce Thicket Walk, providing significant outdoor space that is increasingly rare.
Its appeal lies in offering a balanced, grounded proposition. The assessed value is steady and aligns closely with area averages, suggesting a fair market position without premium pricing. The home suits buyers looking for a established property with a large yard for gardening, recreation, or future expansion, within a mature street setting. It’s particularly well-suited for those who prioritize private outdoor space over a newer build date, and for value-conscious buyers who appreciate a home that performs solidly against key metrics without the volatility of a top-tier priced property.
A thoughtful perspective is that this home represents a "high-floor, low-ceiling" opportunity. Its rankings show consistent above-average performance in tangible assets (land and living area), while its age and value are average. This suggests a lower risk of overpaying for hype, with the benefits firmly rooted in usable space.
Section 2: Frequently Asked Questions
1. How does the sold price compare to the assessed value?
The home sold in June 2024 for an estimated $450k-$500k. The assessed value is $409k. This indicates it likely sold at a premium to its municipal assessment, which is common in active markets, but the exact price can be requested for precise analysis.
2. Is the home older than others in Riverbend?
Yes. Built in 1987, it is older than the neighborhood average (1993), placing it in the top 73% (meaning 73% of area homes are newer). However, it is actually newer than the Winnipeg city-wide average for comparable homes.
3. What does the lot size ranking practically mean?
Ranking in the top 6% on the street and top 10% in Riverbend for land area means this property has one of the larger lots in the immediate area. The lot is over 2,000 sqft larger than the street average, offering notable extra outdoor space.
4. Are the property taxes likely to be high?
Based on its assessed value of $409k, which is around the neighborhood and city average for comparable homes, the property taxes should be fairly typical for a home of this size and value in Winnipeg, not abnormally high or low.
5. How does the living area compare to nearby reference properties?
At 1,547 sqft, it offers substantially more living space than similar-valued homes on nearby streets like Donan Street (approx. 1,060 sqft), though less than some larger, higher-valued homes in the broader area. It provides a strong balance of space within its price segment.