Property Overview & Key Characteristics
This home at 382 Riel Avenue in Winnipeg's Minnetonka neighbourhood presents a compelling case based on its strong comparative metrics. Built in 1975, its primary appeal lies in its above-average living space. At 1,664 sqft, it ranks in the top 7% of homes on its own street and the top 22-27% for its area and the wider city, offering more interior room than many comparable properties. The lot size of 6,054 sqft is solid city-wide (top 29%) though more typical for the immediate area.
The home’s assessed value positions it as relatively affordable within its street context (top 27%) and around the median for the broader neighbourhood. A key data point is its sale in the 2023-2025 period for an estimated $400k-$450k, which performed better than many peers. This suggests a market value that has historically outpaced its assessed value—a point of interest for buyers.
This property would suit practical buyers looking for a home with proven resale performance and more space than the neighbourhood norm, without a premium lot size. It’s a sensible choice for those prioritizing interior square footage and established community character over a brand-new build or an exceptionally large yard.
Frequently Asked Questions
1. How does the home’s recent sale price compare to its current assessed value?
The home sold for an estimated $400,000-$450,000 around 2023-2025, which was above average compared to peers at that time. Its current assessed value is $40,800. In Manitoba, assessed value for property tax purposes often lags behind market value, so this discrepancy is not unusual and the recent sale price is a more current indicator of its market worth.
2. Is the living space significantly larger than other homes nearby?
Yes. With 1,664 sqft of living area, this home is notably larger than the average on Riel Avenue (1,202 sqft) and in both the Minnetonka area (1,439 sqft) and city-wide (1,342 sqft) averages. This is one of its strongest comparative features.
3. What does the "top percentage" ranking mean for the year built?
A ranking in the top 15% on its street for year built (1975) means it is newer than 85% of comparable homes on Riel Avenue. Compared to the wider city, it’s around the average age. This indicates the home is relatively modern for its specific street but typical for Winnipeg overall.
4. How does the lot size compare?
The 6,054 sqft lot is slightly below the average for Riel Avenue and the Minnetonka area. However, city-wide, it ranks in the top 29%, meaning it’s still above average compared to all Winnipeg properties. It offers a standard urban yard rather than an exceptionally large one.
5. Where can I see how this property compares visually to its neighbours?
You can use the provided neighbourhood analysis page link to view the home on a map alongside nearby houses, allowing for a direct visual comparison of lot sizes, house placement, and street context.