Property Overview & Key Characteristics
This home at 57 Riel Avenue presents a distinct profile defined by its modern age and efficient size. Built in 2004, it is a notably newer construction compared to most homes on its street and in the wider Minnetonka area, which largely date back to the 1960s and 1970s. This is its primary advantage, suggesting updated building systems, materials, and potentially less immediate need for major renovations.
With 960 square feet of living space, the home is compact, ranking below the average size for the neighbourhood. This positions it as an efficient, lower-maintenance property. The lot size of just over 6,000 square feet is generous for the city overall and provides good outdoor space relative to the home's footprint. The assessed value is strong for its immediate street, indicating it is viewed favorably compared to its older neighbours.
Its appeal lies in a "right-sized" balance: it offers modern construction comforts on a good-sized lot without the upkeep of a larger, older house. It would suit first-time buyers seeking a move-in-ready, newer home, downsizers looking to reduce maintenance without sacrificing yard space, or investors attracted by the modern build in an established area. A thoughtful perspective is that this property represents a trade-off—you are choosing modern infrastructure over historic character and spacious square footage, which is a compelling value proposition for the right buyer.
Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
The data suggests it is. While smaller than the street average, its assessed value ranks in the top 14% on Riel Avenue. This premium is likely attributed to its significantly newer construction date (2004 vs. a street average of 1969).
2. What does the sold price history indicate?
Records show it last sold between $400,000 and $450,000 in 2021. This sale price ranked in the top 10% for the street at that time, further supporting the value of its newer build.
3. How does the lot size compare?
At 6,246 sqft, the lot is above average for Winnipeg but slightly below the average for Minnetonka. This means you get a solid urban yard that is manageable to maintain.
4. What are the potential drawbacks of a home built in 2004?
While modern, a 22-year-old home is entering the period where certain components (like the roof, major appliances, or HVAC systems) may be nearing the end of their typical lifespan and could require attention or replacement sooner than a brand-new build.
5. Why is the city-wide average assessed value so much higher?
The city-wide average assessed value shown (~$390k) includes all property types and sizes across Winnipeg. This home's assessed value is more meaningfully compared to its local neighbourhood and street averages, where it aligns closely.