Property Overview: 131 Greendell Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling balance of space and value. Built in 1947, it offers 1,280 sqft of living area, which is comfortably in line with averages for its street and neighborhood. The standout feature is the land: a 10,983 sqft lot that ranks in the top 12% within the Minnetonka area and an elite top 5% city-wide. This generous outdoor space offers significant potential for gardening, expansion, or simply enjoying a large, private yard—a rarity in many parts of the city.
Its appeal lies in this substantial lot size paired with a home that is functionally sized and has a stable transaction history, with sales in 2017 and 2022. While the house itself is older than many in the broader area, it sits on a street of similar vintage, suggesting a settled, established streetscape. The assessed value is modest relative to city-wide averages, which may indicate a lower property tax burden.
This property would suit a buyer who prioritizes land over a modern build, such as a hands-on owner looking for room to grow, a family desiring ample play space, or an investor who sees long-term value in the lot itself. It’s a practical choice for those comfortable with the maintenance of an older home in exchange for one of the larger parcels available.
Frequently Asked Questions
1. How does the age of the home affect its value and condition?
Built in 1947, the home is older than most in Winnipeg. This can mean charming character but also potentially requires more attentive maintenance or updates to mechanical systems. It’s advisable to invest in a thorough inspection.
2. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is larger than approximately 95% of all residential properties in Winnipeg. This is its most distinctive asset, offering privacy and possibilities that are increasingly hard to find.
3. The assessed value seems low. Does that reflect the market price?
Assessed value is for municipal tax purposes and often lags behind market value. The sold price ranges from 2022 ($450k-$500k) are a more current indicator of its market worth. The lower assessment could mean relatively lower property taxes.
4. Is the neighborhood trending older or younger compared to the city?
The data shows that for its year built, this home ranks "below average" in Minnetonka and city-wide. This indicates that most homes in the broader comparison groups are newer, but on its specific street, it's closer to the average age, suggesting a consistent, mature block.
5. What can the past sale prices tell me?
The home sold in 2017 ($350k-$400k) and again in 2022 ($450k-$500k), showing appreciation over that five-year period. This history suggests a stable, liquid market for the property.