Property Overview
This home at 311 Riel Avenue in Winnipeg's Minnetonka neighbourhood presents a practical and affordable entry point into the market. Built in 1973, it sits on a roughly 5,700 sqft lot and offers 1,032 sqft of living space. The data indicates its size and assessed value are generally below average for its immediate street and area, but align more closely with city-wide averages, suggesting it represents a typical Winnipeg home in terms of value. Recent sale history shows steady appreciation, with the home selling in the $400k-$450k range in 2024.
Key Characteristics & Appeal
The primary appeal of this property is its value proposition. It is a home that has maintained a competitive price point, likely making it one of the more accessible options in the area. Its lot size is manageable without being overly demanding, suitable for those who want some outdoor space without extensive upkeep. The home’s consistent sale history indicates a stable, no-fuss investment in an established neighbourhood.
This property would suit first-time buyers seeking a foothold in the market, or practical downsizers looking for a lower-maintenance home without leaving the community. It’s for buyers who prioritize financial sensibility and a established location over modern size or high-end finishes. A less obvious perspective is that a home with below-average assessments for its micro-area can sometimes offer more negotiation leverage and potential for value growth through updates, as it isn't already priced at a premium for the street.
Frequently Asked Questions
1. Is this a good value compared to the neighbourhood?
The data suggests it is priced below the average for both Riel Avenue and the wider Minnetonka area in terms of living space and assessed value, but is around the city-wide median for value. This indicates you may be getting a competitively priced property for the city, potentially at a relative discount within its immediate locale.
2. What does the sale history tell us?
The home sold for $350k-$400k in 2021 and $400k-$450k in 2024, demonstrating solid appreciation over a three-year period. This trend suggests a stable market for the property.
3. How does the lot size compare?
At 5,697 sqft, the lot is below the average for Minnetonka but closer to the city-wide average. It provides a decent outdoor space that is manageable for gardening or recreation without being overly burdensome to maintain.
4. What might "below average" living area mean for a buyer?
With 1,032 sqft, the home is cozier than many in the area. This typically translates to lower utility costs and less space to maintain, which can be a benefit for buyers looking to minimize ongoing expenses and upkeep time.
5. How can I find out the exact past sale prices?
The exact sold prices are not publicly listed in detail. The listing service offers to provide them manually via email upon request, with a commitment to respond by the end of the same day without using your information for unsolicited marketing.