Property Overview: 58 Faraway Lane, River Park South, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling proposition centered on space and established value. Its nearly 2,000 sqft of living area ranks consistently in the top 11% for both the River Park South neighborhood and citywide, offering significantly more interior space than the average Winnipeg home. Built in 2008, it is a modern property within a well-established community, avoiding the concerns of much older infrastructure while being past its initial "newness" phase.
The primary appeal lies in its above-average footprint and assessed value. With an assessment of $563k, it sits comfortably above area and city averages, suggesting a solid foundation of perceived market value. A thoughtful perspective is that while the lot size is slightly smaller than others on the street, this often translates to less yard maintenance without a drastic sacrifice in outdoor space, which can be a practical advantage.
This property would suit buyers prioritizing move-in-ready, spacious interiors in a mature suburban setting. It's ideal for growing families or those looking to upgrade from a starter home who want room to grow without venturing into oversized or custom estates. It also appeals to value-conscious purchasers who appreciate a home that metrics show has historically held a strong position relative to its peers.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
While the assessed value is above the street average, the home last sold in late 2019 for an estimated $450k-$500k. For the most accurate and verified sale history, you can request exact figures directly from the site.
2. Is the smaller lot size a significant drawback?
The lot is below the street average but aligns closely with the neighborhood average. This typically means a manageable yard. The trade-off is a larger-than-average living area on a slightly more compact parcel, which is a common preference for those prioritizing indoor space over extensive landscaping.
3. What does the "Above Average" ranking truly indicate?
The rankings show this home outperforms a majority of comparable properties in key metrics. For example, being in the top 11% citywide for living area means nearly 90% of similar Winnipeg homes have less interior space, a strong differentiator.
4. The home was built in 2008. What should I consider?
A 2008 build is relatively modern, so major systems like roofing, windows, and HVAC are likely original but may be approaching the mid-point of their typical lifespans. A pre-purchase inspection is always advised to assess their current condition.
5. Who are the typical neighbors in terms of property values?
On Faraway Lane, this home’s assessed value ranks 6th highest out of 24, placing it in the top quarter. In the broader River Park South area, it remains in the top 12%. This indicates it's situated among other higher-value homes, which can be a positive for long-term value stability.