Property Overview: 20 Reichert Street, River East, Winnipeg
Section 1: Key Characteristics & Appeal
This 1977-built home on a large, 8,815 sqft lot presents a solid, above-average offering in Winnipeg's River East neighborhood. Its primary appeal lies in its balanced combination of space, value, and established location. With 1,689 sqft of living area, the home is notably more spacious than both the neighborhood and city averages, providing ample room for a growing family or those who value extra space. The lot size is a significant asset, ranking in the top 16% of River East and the top 9% city-wide, offering excellent potential for gardening, recreation, or future expansion.
The property’s assessed value of $509k sits comfortably above averages at every level, particularly ranking in the top 10% for the neighborhood. This suggests a perception of durable value and a home that is a step above many in the area. Recent sale history shows strong appreciation, with the last sale in 2023 in the $500k-$550k range, up from $400k-$450k in 2021.
This home would best suit practical buyers looking for a established, spacious property in a mature neighborhood without venturing into premium luxury pricing. It’s ideal for those who prioritize indoor and outdoor space over a brand-new build, and for owners who see value in a lot with future potential. It represents a move-up option within River East or a competitive family home for someone comparing across the city.
Section 2: Frequently Asked Questions
1. How does this home truly compare to others nearby?
The data shows it’s a standout in its immediate area for value and lot size. While its living area is average for Reichert Street, its assessed value is second-highest on the street, and its lot is larger than most in both River East and Winnipeg overall.
2. What does the sale history indicate?
The home sold in 2021 and again in 2023, with a price increase of approximately $100k over those two years. This indicates strong market demand and appreciation for this specific property, though past performance is not a guarantee of future gains.
3. Is the assessed value a reliable indicator of the listing or sale price?
The assessed value ($509k) is for municipal tax purposes and is a benchmark. The last sold price range aligns with this assessment. Market conditions will determine the final listing or sale price, but the assessment suggests a strong valuation foundation.
4. What are the less obvious points to consider?
The home was built in 1977, which is average for the street and area. Buyers should budget for updates consistent with that era. Furthermore, while the lot is large, this also means higher maintenance or snow-clearing costs. The home's value ranks exceptionally high in the neighborhood (top 10%), which could be positive for equity but may also mean property taxes are proportionately higher.
5. How can I verify the exact past sale prices?
The site provides estimated price ranges. Due to industry rules, exact MLS sale figures are not displayed publicly here. You can request the exact sold price history by emailing the site directly for a manual lookup, which they provide without using your email for marketing.