Property Overview: 178 Alburg Drive, Winnipeg
Key Characteristics & Buyer Profile
This 1984-built home in River Park South presents a specific value proposition centered on its lot and location rather than its interior size. At 990 sqft, the living space is notably below average for the street, neighborhood, and city, making it one of the more compact homes in the area. Its primary appeal lies in its generous, above-average lot size for the neighborhood (5,841 sqft) and its assessed value of $376k, which sits below the local average but aligns with the broader Winnipeg market. This creates an opportunity for buyers seeking land and location at a relatively accessible price point within a mature, established community.
The property would suit practical first-time buyers or downsizers who prioritize outdoor space and a stable neighborhood over a large interior footprint. It’s also a candidate for those with a longer-term vision, as the lot offers potential for expansion or landscaping projects that a smaller, more typical city lot would not. A less obvious perspective is that this home, while modest in size, is newer than most in Winnipeg and sits on a street of similarly aged homes, suggesting a uniform, well-established streetscape without the wide disparities sometimes found in older areas.
Frequently Asked Questions
1. Is the below-average living area a concern?
It depends on your needs. The home offers functional space for individuals, couples, or small families who live efficiently. The trade-off is the larger-than-average yard, which provides valuable outdoor living and storage space not always available in this price range.
2. How does the assessed value compare to the likely selling price?
The assessed value of $376k is a municipal valuation for tax purposes and is typically below market value. Notably, it is below average for Alburg Drive and River Park South but aligns closely with the Winnipeg city-wide average, indicating it may be priced for its broader market rather than its immediate, higher-value street.
3. What does the sale history from 2016 tell us?
The previous sale in the $250k-$300k range nearly a decade ago shows significant equity growth. This history is consistent with the area's appreciation and suggests the home has been a stable investment in a desirable neighborhood.
4. Are the nearby comparison properties similar?
The listed nearby properties show a mix. Some have significantly more living area (e.g., 1,656 sqft) at a higher assessed value, while others are closer in size but still larger. This reinforces that 178 Alburg is on the more compact end for the street, which is reflected in its lower assessment relative to its neighbors.
5. Who should request the exact sold price history?
If you are seriously considering an offer, requesting the exact historical sold prices via email is recommended. This provides precise data for informed decision-making, as the publicly displayed figures are given in broad ranges for non-registered users.