Property Overview: 269 Stuart Avenue, River East, Winnipeg
Key Characteristics & Appeal
This 1,280 sqft home, built in 1922, presents a distinct profile within its River East neighborhood. Its key appeal lies in offering above-average interior space for its immediate street, housed within a character home that is notably older than most in the area. The assessed value is significantly below averages for both the street and neighborhood, which can indicate an entry point for buyers or a property with renovation potential. The lot size is smaller than most nearby properties, suggesting lower maintenance but less private outdoor space.
This home would best suit a practical buyer who values interior space and location over a large yard, and who is comfortable with the realities of an older home. It could be a strategic entry into the neighborhood for a first-time buyer, an investor looking for a property with value-add potential, or a downsizer seeking manageable space without leaving the area. Its age and below-average assessment mean due diligence on condition and modernization is essential, but also create a price point that stands out in the community.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighborhood average?
A lower assessment often reflects the home's older age (1922), its smaller lot size, and potentially the current condition or style of the property compared to more recently built and updated homes in River East. It can represent a value opportunity but warrants a thorough inspection.
2. The home is older than almost all others nearby. What should I consider?
While offering character, a 104-year-old home requires careful attention to foundational integrity, plumbing, electrical systems, and insulation. Budgeting for updates and maintenance is crucial. However, its construction may also feature quality materials and craftsmanship not found in newer builds.
3. How does the smaller lot size impact the property?
The 4,325 sqft lot is significantly smaller than area averages, meaning less yard for gardening, play, or expansion. This translates to lower exterior maintenance, but also less privacy and limited potential for additions like a large garage or deck.
4. The home sold in March 2023. What does that recent sale indicate?
A sale within the last two years provides a solid, modern price benchmark, reducing guesswork about current market value. The sale price range (CA$300k-350k) aligns with the current below-average assessment, suggesting the market consistently values it at this level relative to the area.
5. The living area is above average for the street but average for the city. What does this mean?
It means you get more interior space than most direct neighbors, which is a local advantage. City-wide, it's a standard size. This highlights that the home's space is a relative strength in its immediate location, potentially offering better room layout or functionality than other houses on Stuart Avenue.