Property Overview: 277 Ashland Avenue, Riverview, Winnipeg
Section 1: Key Characteristics & Appeal
This 1923 home in Riverview presents a distinct value proposition centered on its generous lot. At 1,075 sqft, the living space is modest, ranking below the street average, and its assessed value is the lowest on Ashland Avenue. The primary appeal lies in its above-average 6,397 sqft land area for the neighborhood, offering significant outdoor space and potential in a mature, established community.
This property would best suit a pragmatic buyer who prioritizes land over a large existing footprint. It’s a candidate for a long-term holder comfortable with a home that may require updates, or for a buyer with renovation or expansion plans where the lot size is a key asset. It offers an entry point into Riverview, trading immediate square footage and modern finishes for a sizable yard and future possibility.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the street average?
The assessed value reflects the property’s characteristics relative to others, primarily its smaller living area and older construction date (1923) compared to many homes on the street. This indicates it may be a more basic or dated home in its current state, which is factored into the valuation.
2. How significant is the lot size?
Very. The lot is over 6,300 sqft, which is larger than about 80% of lots in Riverview. This is the property's standout feature, providing ample yard space, privacy, and room for additions, gardens, or outdoor living areas that are rare at this price point in the area.
3. What does the sold price data indicate?
The home sold between $250,000 and $300,000 in August 2023, which aligns with its lower assessed value. This recent sale confirms its market position as a value-oriented option, likely appealing to buyers seeking affordability in the neighborhood.
4. Are the older home and smaller size major drawbacks?
That depends on your goals. The 1923 build means potential for character but also likely requires attention to aging components like wiring, plumbing, or windows. The below-average living area suits smaller households or those willing to invest in a thoughtful expansion to maximize the large lot.
5. How does this property fit within Riverview?
It sits at a more accessible price point for the neighborhood. While the home itself is humbler than many on its street, you gain the same location benefits—a mature, central community—with a lot that offers more space than most. It represents a trade-off: a project or cozy home on a premium-sized parcel.