23 Riverbend Avenue

Property Summary: 23 Riverbend Avenue, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This home presents a practical and value-oriented opportunity in Winnipeg's Minnetonka neighbourhood. Built in 1970, it is a newer construction compared to many on its street, offering potential advantages in systems and upkeep. The 988 sqft living space is modest and below average for the area, suggesting a manageable layout ideal for simplifying or downsizing. Its standout feature is the 6,833 sqft lot, which is notably larger than the typical Winnipeg property, providing valuable outdoor space and future potential.

The appeal lies in its balance of a newer build on a generous lot, coupled with an assessed value that is consistently around the average for its immediate vicinity. This creates a scenario where the land itself represents a significant portion of the property's value. It last sold in the $300k-$350k range in 2024, positioning it as an accessible entry point.

This property would best suit a first-time buyer comfortable with a cozier interior footprint who prioritizes yard space, or an investor looking for a land-value play with a steady rental history. It’s also a candidate for someone seeking a lower-maintenance base with room to eventually expand, given the lot size.

Frequently Asked Questions

1. Is the house smaller than others nearby?
Yes. At 988 sqft, the living area is below the average for Minnetonka (1,439 sqft) and for the city overall. This indicates a more compact, efficient layout.

2. What does the "above average" year built ranking mean for the street?
It means the home, built in 1970, is newer than most on Riverbend Avenue, where the average build year is 1958. This can suggest updated foundational components compared to neighbouring houses.

3. Why is the lot size considered "above average" city-wide?
The lot is 6,833 sqft, which is larger than the Winnipeg average of ~6,570 sqft. This is a key asset, offering more private outdoor space than many city properties.

4. How does the assessed value compare?
The assessed value of $38,10k is around the average for the street and the Minnetonka area. City-wide, average values are higher, but this reflects the specific market of this neighbourhood.

5. What can the 2024 sale price range tell me?
The recent sale in the $300k-$350k range provides a concrete market benchmark from within the past year, showing the price point at which it last changed hands in the current market.