Property Overview: 238 Strood Avenue, River East, Winnipeg
Section 1: Key Characteristics & Buyer Appeal
This 780 sqft bungalow, built in 1952, presents a distinct profile defined by its contrasts. Its living space is notably compact, ranking well below averages for its street, neighborhood, and city. The assessed value of $307k is also below local averages on Strood Avenue and in River East, though it aligns more closely with the wider Winnipeg average. The home’s age is a standout, being older than most in its immediate area.
The property’s primary appeal lies in its generous 6,462 sqft lot, which is above the citywide average and offers significant outdoor space relative to the home's footprint. This creates a clear value proposition: a lower-priced entry point into the neighborhood with land that holds potential for expansion, gardening, or outdoor living. It suits practical first-time buyers or downsizers who prioritize lot size over interior square footage and are comfortable with a home that may require updates. It also appeals to value-oriented investors or buyers with a vision for renovation, seeing the older structure and larger lot as a canvas for future value addition, rather than a move-in-ready finished product.
Section 2: Frequently Asked Questions
1. Why is the assessed value below the street and neighborhood average?
The assessed value reflects the home’s smaller size, older age, and likely its current condition compared to larger, more recently built or updated homes on the same street. The value is more in line with the citywide average, suggesting you are paying primarily for the land and location within Winnipeg.
2. Is the smaller living area a major drawback?
It depends on your needs. For a single person, couple, or someone downsizing, 780 sqft can be efficient and manageable. However, for those needing multiple bedrooms or dedicated workspace, it will feel cramped. The large lot offers a trade-off, providing space that isn’t available in many newer, denser developments.
3. What does the older year built (1952) mean for me?
It typically indicates potential for charming original features but also a higher likelihood of aging core components (like plumbing, electrical, or the roof) needing attention or modernization. A thorough inspection is essential to understand the condition and any upcoming capital costs.
4. How does the large lot size benefit me?
Beyond simple outdoor space, a larger lot in an established neighborhood offers long-term flexibility. It could allow for a future addition, the creation of a rental suite (subject to zoning), or simply provides more privacy and greenery than newer lots. It’s an asset that is increasingly rare.
5. Can I get the exact sales history for this property?
The public data does not show a detailed sales history. To obtain verified, exact historical sale figures, you must request them directly via email from the listing service, as they manually provide this data due to industry regulations.