Property Overview: 35 Knotsberry Bay, River Park South, Winnipeg
Key Characteristics & Appeal
This 980 sqft bungalow, built in 1984, presents a practical and affordable entry point into Winnipeg's River Park South neighborhood. Its key appeal lies in its value positioning: with an assessed value of $383k, it sits below the local area average but aligns closely with the wider city average, suggesting a competitively priced offering for the neighborhood. The home is notably smaller than most comparable properties on its street and in the area, which is a primary factor in its lower assessment. However, it sits on a standard, nearly 5,000 sqft lot and is one of the older homes on its block, which can imply a more established streetscape.
This property would suit first-time buyers or downsizers seeking a lower-maintenance footprint without leaving a desirable community. It’s also a candidate for value-conscious investors or buyers who prioritize location and lot potential over immediate living space, as the size differential from neighborhood norms could allow for future expansion, subject to approvals. The recent sale history (sold between $350k-$400k in mid-2023) indicates a stable, in-demand price range for the area.
Frequently Asked Questions
1. Is this home significantly smaller than its neighbors?
Yes. At 980 sqft, its living area is below the average for the street (1,250 sqft), the neighborhood (1,410 sqft), and the city (1,342 sqft). This is the defining characteristic influencing its value.
2. How does its assessed value compare?
Its $383k assessment is below the averages for Knotsberry Bay ($411k) and River Park South ($447k), but is very close to the Winnipeg citywide average ($390k). This indicates you are paying a "neighborhood premium" for a smaller home.
3. What does the year built tell us?
Built in 1984, it is slightly older than the street and neighborhood averages. This can mean more mature landscaping and an established community feel, but may also indicate original components needing updates.
4. How reliable is the sold price data shown?
The site shows a sold price range (CA$350k–400k) from June 2023. They note this is based on public internet data, not the MLS, and offer to provide verified exact figures via email upon request.
5. Are the nearby listed properties direct comparisons?
The "Nearby properties" and "Similar assessed value" lists show homes close in location or assessment value. However, key details like living area and year built often differ significantly, underscoring the importance of comparing specific features, not just price or proximity.