Property Overview: 274 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This 1983-built home in River East presents a solid, above-average offering within its market. With 1,446 sqft of living space, its size is consistently "around average" when compared to similar homes on its street, in the neighborhood, and across Winnipeg. The home's primary standout feature is its generous 12,207 sqft lot, which ranks in the elite top 5% for River East and top 3% city-wide. This presents a significant opportunity for expansion, gardening, or outdoor living that is increasingly rare in the city.
Its assessed value of $493k sits comfortably above average at all comparison levels, suggesting official recognition of its desirable lot and stable condition. The home last sold between $400k-$450k in late 2024, placing it in the top 25-34% of area sales, indicating strong market acceptance.
This property would suit practical buyers looking for a home with established neighborhood roots and more land than a typical modern lot. It’s ideal for someone who values long-term potential and space over a brand-new build, and for whom a "move-in ready" home is less important than having a canvas for future outdoor projects or additions.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The lot is exceptionally large for Winnipeg, especially in this neighborhood. This is the property's most distinctive asset, offering privacy, space for recreation, and future development potential that most homes in this price range cannot match.
2. How does the sold price compare to the assessed value?
The home sold for less than its current assessed value in late 2024. This is not uncommon and can reflect market conditions at the time of sale, specific property factors, or the timing of assessment cycles. The assessed value is a benchmark for municipal taxation, not a direct market price.
3. What does "around average" for living space mean for a family?
With 1,446 sqft, the home provides typical space for a family in this area. It’s not exceptionally large, but it is consistent with the neighborhood standard, likely offering 3-4 bedrooms and standard living areas. The significant lot size often compensates for any interior space constraints.
4. The home was built in 1983. What should I consider?
Built later than many on the street (average 1976), this suggests potentially newer major systems like plumbing, electrical, or roofing than some neighbors. However, it is now over 40 years old, so a thorough inspection of these aging components is essential.
5. How does this property fit into the River East neighborhood?
It sits in a stable, established area where this home's assessed value is in the top 13%. This indicates it is considered a higher-value property within River East. The elite lot size further sets it apart, offering a premium feature in a mature neighborhood.