Property Overview: 283 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This River East home presents a distinct value proposition centered on its land. Built in 1959, the 975 sqft house is modest in size, ranking below average for both the street and neighborhood. However, it sits on a 12,202 sqft lot, which is exceptionally large for the area, placing it in the top 5% of River East and top 3% citywide. The assessed value of $387k is consistently around the average benchmark at every comparison level.
The primary appeal lies in this land-to-structure ratio. It suits a specific buyer: someone who values outdoor space, expansion potential, or future redevelopment over immediate move-in size. It’s a solid entry point into the neighborhood, likely appealing to hands-on buyers comfortable with a home of its era who see the lot as a long-term asset. For the right person, the property offers the rare chance to own a generous parcel in an established area, where the land itself may hold more future value than the existing structure.
Frequently Asked Questions
1. Is the house too small?
At 975 sqft, the living area is notably smaller than most homes on the street and in River East. It would best suit smaller households, those comfortable with cozy spaces, or buyers planning an addition.
2. Why is the lot size so significant?
A lot of this size (over a quarter-acre) is increasingly rare in mature neighborhoods. It offers ample space for gardening, recreation, adding a garage or workshop, or potentially future subdivision, subject to city approvals.
3. How does the assessed value compare to the recent sale price?
The home sold in July 2024 for between $400k and $450k. This sale range aligns closely with its $387k assessed value and the area averages, suggesting a stable, market-appropriate valuation.
4. What should I consider about the home’s age?
Built in 1959, it is older than most in the immediate area. A prospective buyer should budget for updates consistent with its era and prioritize a thorough inspection of major systems like plumbing, electrical, and the foundation.
5. How can I verify the exact past sale price?
The provided sale data is an estimated range from public records. For the precise sale figure and full transaction history, you must request a manual lookup via the website’s email system, as MLS data is not displayed.