Property Overview: 522 Riverton Avenue
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1906, presents a classic character home opportunity in Winnipeg's Chalmers neighbourhood. With 828 square feet of living space, it is a compact and manageable footprint. The property features a detached garage and a full, unrenovated basement, offering functional storage or future development potential. Its lot size of nearly 4,000 sqft is notably above average for the Chalmers area, providing valuable outdoor space.
The primary appeal lies in its position as a relatively affordable entry point into homeownership, underscored by its below-average citywide assessed value. Its charm is rooted in its history and simplicity, suited for a buyer comfortable with a home that may require updates over time. This property would best suit a first-time buyer, an investor looking for a hands-on rental property, or a practical downsizer seeking a low-maintenance lot without the constraints of a condo. A thoughtful perspective is its above-average lot size for the immediate area, which is a lasting asset that can outweigh the need for interior modernization for the right owner.
Frequently Asked Questions
1. How does the size of this home compare to others?
At 828 sqft, the living area is below the citywide average but is reasonably aligned with the typical home size in the Chalmers neighbourhood.
2. What does the "unrenovated basement" imply?
This indicates the basement is in original or functional condition but has not been modernized or developed into finished living space. It presents potential for future customization but may require addressing foundational elements, moisture control, or updates first.
3. Is the assessed value a reliable indicator of the sale price?
Not directly. The assessed value for municipal taxes is significantly lower than the home's last sale price of $200,000 in 2021. Market conditions, property improvements, and demand determine the sale price.
4. What are the considerations with a home built in 1906?
While full of character, a home of this age likely has older building materials and systems. Prospective buyers should budget for potential updates to wiring, plumbing, or insulation, and should prioritize a thorough inspection.
5. How does the lot size benefit the owner?
The lot is larger than many in Chalmers, providing more private outdoor space, better potential for gardening, landscaping, or adding a deck, and possibly more flexibility for future additions, subject to zoning.