Property Overview: 334 Balfour Avenue, Riverview, Winnipeg
Key Characteristics & Appeal
This 1913-built home in Riverview presents a distinct value proposition centered on space and land. At 1,479 sqft, its living area is above average for the neighborhood, offering more interior room than many nearby homes. The lot size of 6,397 sqft is a significant asset, ranking in the top quarter of Riverview, which provides ample outdoor space and potential not found in newer, more densely packed subdivisions.
The primary appeal lies in its assessed value of $273k, which is notably below averages for the street, neighborhood, and city. This positions the property as an accessible entry point into the established Riverview area. Recent sale data suggests it sold in early 2024 within the $250k-$300k range, reinforcing its status as a value-oriented option.
This home would suit a pragmatic buyer—perhaps a first-time homeowner, an investor, or a downsizer—who prioritizes lot size and interior space over modern finishes or a high assessment value. It’s for someone comfortable with the character and potential maintenance considerations of a century-old home, viewing them as a fair trade-off for affordability in a central neighborhood. A less obvious perspective is that its below-average valuation could offer relative property tax savings, while the larger lot provides a rare commodity: room to grow, garden, or simply enjoy private outdoor space in the city.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
The assessed value of $273k is significantly below the local averages. This typically reflects the home’s older age (1913), its specific condition, and potentially its renovation state compared to updated homes on the same street. It indicates a different value proposition focused on land and fundamentals rather than premium finishes.
2. How does the living area compare to other homes?
At 1,479 sqft, the home offers above-average living space for the Riverview neighborhood. It provides more interior room than most comparable homes in the immediate area, which is a key advantage for its price point.
3. What does the lot size mean for me?
The 6,397 sqft lot is larger than approximately 79% of lots in Riverview. This is a standout feature, offering generous outdoor space for recreation, gardening, or future expansion like a shed or deck, which is increasingly uncommon in urban settings.
4. Where can I find the exact sold price?
The site provides sold price ranges for non-members. To obtain the exact sale figure from its early 2024 transaction, you must request a manual lookup via email, as this system does not display MLS sold records directly.
5. What are the implications of the 1913 build date?
As one of the older homes on the street, it offers classic character but likely requires a thorough inspection. Buyers should budget for potential updates to systems like wiring or plumbing and consider energy efficiency. Its age is a primary factor in its below-average assessed value.