Property Overview: 31 Nicollet Avenue, Winnipeg
Key Characteristics & Appeal
This single-family home in Minnetonka presents a practical opportunity with a specific value proposition. Built in 1974, it is a home of average age for its area. Its key characteristic is a noticeable contrast between its modest, below-average living space (997 sq ft) and its solid, average-sized lot (5,567 sq ft). In fact, the lot size ranks well above average for Nicollet Avenue itself. This creates a distinct dynamic: the interior is compact and efficient, while the yard offers above-average outdoor potential for the immediate street.
The appeal lies in this balance. The assessed value is consistently around the average mark for the neighbourhood and city, suggesting a stable, mid-market entry point into homeownership. It suits buyers who prioritize land space over interior square footage—perhaps first-time buyers, downsizers, or investors looking for a manageable property with room for a garden, storage, or future expansion. It’s a home for those who see value in the lot itself and are comfortable with a cozier interior layout, offering a chance to live in an established neighbourhood without a premium price tag.
Frequently Asked Questions
1. Is the house smaller than others in the area?
Yes. At 997 sq ft, the living area is below the average for both Nicollet Avenue and the wider Minnetonka neighbourhood.
2. What is the potential for expansion or renovation?
The lot size is a significant asset here. While the house is compact, the above-average yard for the street could provide space for an addition, a large deck, or a garage, subject to local zoning and permit approvals.
3. How does the assessed value compare to the last sale price?
The home sold for an estimated $350k–$400k in 2021. Its current assessed value is $38,900. It’s important to consult with a real estate professional to understand current market value, as assessed value for tax purposes often differs significantly from resale value.
4. What does the "ranking" data mean for livability?
The rankings show how this property compares statistically to others. For example, living space ranks lower, but the lot ranks higher on its street. This quantifies the trade-off: you get more land but less house for the area.
5. Where can I see more context about the neighbourhood?
A detailed neighbourhood analysis map is available, allowing you to see nearby homes and compare their year built, size, and values directly. This helps visualize where 31 Nicollet Avenue fits within the community fabric.