Property Overview: 514 River Road, Winnipeg
Key Characteristics & Appeal
This home at 514 River Road in Minnetonka presents a practical and competitively positioned offering. Built in 1986, it is a newer construction compared to many homes on its street and across the city, which often translates to modern building standards and potentially fewer major age-related updates in the near term. With 1,580 sqft of living space, it provides ample room for a small family or couple, offering more space than the typical Winnipeg home while being reasonably aligned with the scale of others on River Road.
The property’s appeal lies in its balanced, data-driven profile. Its assessed value is consistent with the local area, suggesting it is priced fairly within the market rather than being an outlier. A thoughtful perspective is the lot size: at just under 5,900 sqft, it is smaller than most in Minnetonka. This could be a positive for buyers seeking lower maintenance outdoor space without sacrificing a city-average yard. The home last sold in the $450k-$500k range in 2023, indicating recent market validation.
This property would suit first-time buyers or downsizers looking for a move-in-ready home in a stable neighbourhood. It’s ideal for those who value a newer build date and efficient use of space over a sprawling lot. The numbers suggest it’s a solid, middle-of-the-market home for pragmatic buyers who prioritize a sensible investment over extravagant features.
Frequently Asked Questions
1. How does this home’s size compare to its neighbours?
At 1,580 sqft, the living area is slightly below the average for River Road but is actually above the average size for both the wider Minnetonka area and the city of Winnipeg as a whole. It offers a comfortable amount of space.
2. Is the lot size a disadvantage?
The lot is smaller than most in the immediate area. This means less yard maintenance, which can be a benefit. For city-wide comparison, the lot size is near the overall average, so it’s not unusually small in a broader context.
3. What does the 1986 build year mean for maintenance?
Built 40 years ago, this home is newer than many of its neighbours. While it will still require ongoing upkeep, key components like the roof, windows, and major systems may have been updated more recently than in homes built in the 1960s or 70s.
4. How is the assessed value determined, and what does it indicate?
The assessed value is used for calculating property taxes and is based on market trends and property characteristics. That this home’s assessment is “around average” for its street and area suggests it is not over-improved or under-improved relative to its location, which can be a sign of stability.
5. Where can I see more detailed comparisons with nearby homes?
You can use the provided link to open a neighbourhood map analysis. This tool allows you to visually compare this property with nearby houses based on year built, living area, assessed value, and lot size.