Property Overview: 361 Churchill Drive, Riverview, Winnipeg
Key Characteristics & Appeal
This 1953 home in Riverview presents a distinct value profile defined by its generous lot and a practical, smaller footprint. At just over 1,000 sqft, the living space is notably compact compared to most homes on its street and in Winnipeg overall. However, this is balanced by a land area of over 7,500 sqft, which ranks in the elite top 4% for the Riverview neighborhood. This creates a unique proposition: a home with modest interior space situated on a much larger-than-typical lot for the area.
The appeal lies in this land potential and a solid location within a desirable neighborhood. With an assessed value of $424k, it sits above the Riverview average but aligns with the wider city average, suggesting you are paying a premium for the specific street and lot size rather than the home's square footage. It last sold for an estimated $450k-$500k in late 2022. This property would best suit a buyer who prioritizes outdoor space for gardening, expansion, or future development over immediate, spacious interiors. It could also be a strategic entry point into the Riverview area for those comfortable with a cozy home layout, with the land representing a long-term asset.
Frequently Asked Questions
1. Is the house too small for a family?
At 1,002 sqft, it is significantly smaller than the average home on Churchill Drive (~1,426 sqft). It would suit a small family, a couple, or a buyer for whom living space is less critical than land space.
2. Why is the assessed value higher than the neighborhood average?
While the home's size is below average, its assessed value of $424k is above the Riverview average of ~$389k. This is likely driven by its desirable location on Churchill Drive and, most notably, its very large lot size, which is a key factor in property valuation.
3. What can I do with such a large lot?
The 7,541 sqft lot is the property's standout feature. It offers ample room for large gardens, recreational space, or potential future additions like a garage, workshop, or even an expansion of the home itself, subject to local zoning and permits.
4. How does the sale history inform the current value?
The home sold for an estimated $450k-$500k in September 2022, near the peak of a hot market. The current assessed value of $424k provides a municipal baseline, but a current market valuation would consider subsequent market shifts, condition updates, and direct comparable sales.
5. Are the sold prices for nearby homes comparable?
The provided comparable homes have a range of sizes, values, and ages. For example, a similarly valued home on Balfour Avenue is larger (1,351 sqft) but on a presumably standard lot. This underscores that 361 Churchill's value is weighted heavily toward its land, not its interior space.