Property Overview: 87 Malmsbury Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1984-built home in River Park South presents a practical entry point into a well-established neighborhood. At 888 square feet, it is notably more compact than most homes on its street and in the wider area, which is its defining characteristic. This smaller scale is reflected in its assessed value of $386k, which sits below the street and neighborhood averages but aligns closely with the Winnipeg-wide average.
The appeal here is one of efficiency and opportunity. The lot size is typical for the area, offering standard outdoor space. For the right buyer, the smaller living area translates to lower utility costs, less maintenance, and a more manageable footprint. This property would suit first-time homebuyers seeking affordability in a mature community, downsizers looking to right-size without leaving the area, or investors considering a rental property. It’s a home that prioritizes location and lot over interior square footage, offering a chance to enter the market and potentially add value through updates or an expansion over time.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 888 sqft, it is significantly smaller than the average home on the street (~1,360 sqft). This makes it efficient and affordable to maintain but requires thoughtful use of space. It's ideal for individuals, couples, or small families comfortable with a cozy layout.
2. How does the assessed value compare?
The $386k assessment is below average for Malmsbury Avenue and River Park South. However, it is very close to the city-wide average, suggesting you are paying a "Winnipeg-average" price for a below-average-sized home in an above-average neighborhood.
3. What does the 1984 build year mean for maintenance?
Built in 1984, the home is newer than many in Winnipeg. While major systems like roof, windows, and furnace may be nearing or past their typical lifespan, this also means the core structure benefits from modern building standards compared to much older city homes.
4. Are there comparable recent sales?
The home last sold in July 2017 for between $300k-$350k. Direct, recent sales data for this specific property is not publicly displayed here due to industry rules, but exact figures can be requested from the site via email.
5. What is the potential for future value?
The value proposition is based on the land and location in River Park South. The smaller home size on a standard lot could present a future opportunity for expansion or renovation (subject to permits), allowing a buyer to increase the living area in a desirable neighborhood.