Property Overview
This home at 36 Riverbend Avenue in Winnipeg's Minnetonka area presents a compelling mix of space, value, and established character. Built in 1947, its primary appeal lies in its generous proportions relative to its peers. The 1,734 sqft living area is notably above average for the street, neighbourhood, and city. More significantly, the 10,240 sqft lot is a standout feature, placing it in the top 6% citywide for land area, offering substantial outdoor potential.
The home suits buyers looking for a property with room to grow, whether that's for gardening, expansion, or simply enjoying a larger private yard. It's a solid value proposition within its immediate area, with an assessed value that ranks highly on its street. This property would likely attract practical buyers who prioritize interior and exterior space over a newer build, and who see the charm and potential in a well-located, post-war home. It’s a sensible choice for someone wanting more house and land for their investment compared to newer subdivisions, with the understanding that a home of this age may require updates or maintenance.
Frequently Asked Questions
1. How does the 1947 build year affect the property?
While older than most homes in Winnipeg and Minnetonka, the year is typical for Riverbend Avenue itself. This suggests a mature, established streetscape. Buyers should be prepared for the systems and structure of a nearly 80-year-old home, which may require inspection and potential updates, but also often comes with solid construction and mature landscaping.
2. The assessed value seems low compared to the last sold price range. Why?
The assessed value for taxation purposes ($46.70k) is a provincial calculation and is typically much lower than market value. The property last sold between $400k-$450k in 2019, which is a more relevant indicator of its market price. The high ranking of its assessed value on the street indicates it is considered a higher-value home in its immediate area by the assessor.
3. What does the lot size ranking actually mean?
Ranking in the top 6% city-wide for land area is significant. It means that out of nearly 200,000 comparable properties in Winnipeg, only about 6% have a larger lot. This is the home's most distinctive statistical feature, offering rare space for the city.
4. Is the living space efficiently configured?
The data shows the living area is above average, but it doesn't specify the layout. In a 1947 build, the room flow and number of bedrooms/bathrooms may differ from modern open-concept designs. Viewing the floor plan is essential to see if the space meets your needs.
5. How stable is the value in this location?
The home ranks above average for both living area and assessed value on its own street, suggesting it is consistently a stronger performer in its micro-market. This can indicate a stable, desirable pocket within the broader neighbourhood, which is a positive sign for long-term value.