Property Overview: 474 Riverton Avenue
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Chalmers presents a practical opportunity with a renovated basement. Built in 1913, it offers 1,152 sqft of living space on a 4,005 sqft lot, with a detached garage. The data reveals its primary appeal is in its context: while its size and assessed value are modest citywide, they are notably above average for the immediate Chalmers neighbourhood. This suggests you get more house for your dollar here compared to many nearby streets. The renovated basement adds modern utility to a classic structure.
The property would suit a first-time homebuyer or a pragmatic investor looking for a solid entry into the Winnipeg market. Its above-average neighbourhood rankings indicate a home that stands out positively on its own street, offering a sense of relative value and space that can be harder to find in other areas. It’s a home for someone who values a renovated living space and a decent-sized lot over a new build or a central location, appealing to those who see potential in established communities.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
The assessed value is for municipal tax purposes and is typically lower than market value. Recent sale history on the street and comparable local listings are more accurate indicators of current market price.
2. What are the implications of the home’s age (1913)?
While offering classic character, it necessitates a thorough inspection. Focus should be on the condition of major updated systems, like wiring and plumbing, and the quality/permits for the basement renovation. The age is typical for the area.
3. The living area is above average for Chalmers but average citywide. What does this mean?
This highlights the neighbourhood's character. You are getting a relatively spacious home for this specific, often more affordable, part of the city. It means good internal space but tempered expectations compared to newer suburban areas.
4. What is the significance of the detached garage?
A detached garage on a lot of this size offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without encroaching on the house's footprint. It is a valuable asset in an older neighbourhood.
5. How should I interpret the sales history from 2020 and 2017?
These past sales show the property's price trajectory over time and are useful for understanding long-term value. However, for a current offer, you should primarily rely on a comparative market analysis of homes sold in the very recent past (typically the last 3-6 months).