Property Overview: 73 Morley Avenue, Riverview, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,120 sqft home, built in 1910, presents a straightforward opportunity in Winnipeg's Riverview neighborhood. Its core appeal lies in its position as a competitively priced entry point into a established area. The home's living area is typical for its street, but its assessed value of $202k is notably below averages for the street, neighborhood, and city, suggesting a potentially lower entry cost or a value proposition for the savvy buyer.
The property suits first-time homebuyers or practical investors seeking a lower-stakes foothold in a mature community. Its smaller lot size (2,501 sqft) means less maintenance, which could appeal to those wanting a more manageable yard. A thoughtful perspective is that this home represents the "baseline" character of Morley Avenue—it’s not the largest or newest, but it offers a chance to own a piece of a street with varied, older homes without the premium price of recent renovations or additions seen in some nearby sales. The recent sale history (sold between $150k-$200k in late 2022) indicates it has functioned as an accessible option in the market.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper" or a move-in ready home?
The data does not specify condition. However, the assessed value is significantly below area averages while the living area is average, which often indicates either a need for updates or a very basic level of finish compared to neighbors. A professional inspection is essential.
2. Why is the lot size smaller than many in Riverview?
This is characteristic of older, central neighborhoods where lot sizes can vary greatly. This property's lot is average for Morley Avenue but below the wider neighborhood average, reflecting the street's specific development pattern over a century ago.
3. How does the 1910 build year affect the home?
It places the home among the older on the street and in Riverview. This typically means character but also necessitates close attention to the condition of foundational systems like wiring, plumbing, and the roof during an inspection.
4. The sold price from 2022 seems low. Does that reflect the home's value?
That sale price reflects the market at that specific time. The current assessed value is higher, but both figures consistently place the home in a below-average value tier for the area, highlighting its role as a more affordable option.
5. What are the realistic comparisons when looking at nearby properties?
For a true sense of value, compare it to other homes on Morley Avenue from a similar era (e.g., 27 Morley Ave, built 1907). Comparisons to larger, newer, or recently renovated homes on the same street (like 68 Morley Ave, built 2009) will show a significant value and feature gap, underscoring this property's different market position.