495 Riverton Avenue

Property Overview

This two-storey home at 495 Riverton Avenue in Winnipeg's Chalmers neighbourhood presents a practical opportunity. Built in 1972, it is notably newer than most homes on its street and in the immediate area. Its key features include a renovated basement and a living area that is spacious compared to local norms. The lot size is typical for Riverton Avenue but modest by wider city standards. With no garage or pool, the property leans toward low-maintenance living. Its most defining characteristic is its value proposition: the assessed and recent sale prices are significantly below the Winnipeg city average, offering an accessible entry point into the market.

Who It's For & Its Appeal
This home suits first-time buyers or practical investors seeking a straightforward, no-frills property in a long-established neighbourhood. Its appeal lies in its relative modernity for the area, the updated basement, and its manageable size. A thoughtful perspective is that while the lot is not large, its average size for the street suggests a streetscape of consistent scale, which can contribute to neighbourhood cohesion and a sense of space. It would also suit a buyer who prioritizes putting their own stamp on a home, as the price point may allow room for future updates. The low assessed value indicates very manageable property taxes, a significant and often overlooked ongoing cost benefit.

Frequently Asked Questions

1. How does the year built (1972) compare to nearby homes?
This home is newer than most in its immediate vicinity. It ranks in the top 16% on Riverton Avenue for its year of construction, meaning it is significantly more modern than the majority of its neighbours, which often date to the early 1900s.

2. Is the living space large for the area?
Yes. With 1,152 square feet, the living area is above the average for both Riverton Avenue and the broader Chalmers neighbourhood, offering more interior space than many comparable local properties.

3. What should I know about the lot size?
The land area of 2,814 sqft is around the average for Riverton Avenue and Chalmers. However, it is below the average lot size for the entire City of Winnipeg, which is typical for older, established neighbourhoods closer to the city's core.

4. Why is the assessed value so much lower than the city average?
The assessed value is based on the local market and property characteristics. While it is typical for Chalmers and Riverton Avenue, it is far below the Winnipeg city average because that average includes newer, larger homes in suburban areas with higher-valued land, pulling the city-wide figure up.

5. What does the sale history indicate?
The home sold previously in October 2020 for $19,600, which is closely aligned with its current assessed value of $21,100. This suggests a stable and consistent valuation in the local market context over recent years.