Property Overview
This home at 316 Riel Avenue presents a solid, mid-century option in Winnipeg's Minnetonka neighbourhood. Built in 1973, its 1,130 sqft living area is comfortably within the average range for the immediate street and the wider city, suggesting a practical layout for everyday living. The assessed value of $400k positions it as a comparatively strong value on its own street. A key characteristic is the 5,500 sqft lot, which is notably more compact than most in Minnetonka, potentially meaning less yard maintenance. The home last sold between $350k-$400k in 2019.
Its appeal lies in its established location and statistical steadiness—it doesn't stand out as exceptionally large or small, new or old, but rather as a consistent performer in its peer group. This could indicate a lower-risk, predictable property profile. It would suit a first-time buyer or downsizer looking for a manageable home in a mature neighbourhood without the premium for a large lot. It may also attract value-conscious buyers who note its above-average assessed value ranking on Riel Avenue itself.
Frequently Asked Questions
1. How does the lot size impact this property?
At 5,500 sqft, the lot is smaller than the average for both Riel Avenue and the Minnetonka area. This typically translates to less outdoor maintenance, which can be a benefit, but may limit expansion possibilities or private outdoor space compared to neighbours.
2. What does the "around average" ranking for most metrics signify?
The data shows the home is consistently middle-of-the-pack in terms of size, age, and value when compared to local and city-wide peers. This often suggests a property that is neither over-improved nor under-improved for its area, which can provide stability.
3. The assessed value seems high relative to some averages shown. Why?
The assessed value of $400k ranks in the top 32% on its own street. This could reflect specific updates, a desirable position on the block, or simply a strong underlying value assessment for this particular home compared to its immediate neighbours.
4. Can I find out the exact past sale price?
The public data shows a sale price range of $350k-$400k for 2019. The exact sale price is available by request from the listing service, which they provide manually via email.
5. What are the implications of the home being built in 1973?
As a home from the early 1970s, prospective buyers should budget for potential updates to major systems like roofing, windows, plumbing, or electrical that may be nearing the end of their typical lifespan, while also appreciating the era's often straightforward floor plans.