Property Overview: 42 Shier Drive, River West Park, Winnipeg
Key Characteristics & Appeal
This 1974-built home in River West Park presents a compelling value proposition defined by its context. With 1,855 sqft of living space and a large 9,124 sqft lot, the home sits in an interesting position: it is a moderately sized property on a street of notably larger, more valuable homes. Its assessed value of $522k is above average for both the neighborhood and the city, yet it ranks near the bottom of its own street in terms of value and size. This creates a unique dynamic—you are acquiring a property with solid city-wide metrics (top 15% in living area, top 8% in lot size) in an established area, but with the potential for future appreciation as a relative value play on a desirable street.
Its appeal lies in offering above-average space and a generous lot for Winnipeg, within a stable neighborhood. It would suit practical buyers looking for room to grow or customize without paying the premium for the street's largest homes. It’s also a sensible fit for those who value a larger outdoor space and see the discrepancy with neighboring properties not as a drawback, but as a long-term opportunity in a well-regarded location.
Frequently Asked Questions
1. Why is the assessed value so much lower than the street average?
The home’s living area is significantly smaller than the street average (1,855 sqft vs. 2,529 sqft), which is a primary driver of its lower assessment. It may also differ in finishes, upgrades, or specific features compared to neighboring properties.
2. How reliable is the sold price data shown?
The sold price range (CA$500k–550k in November 2020) is based on publicly available data, not the MLS. For fully verified and exact historical transaction figures, you must request a manual lookup from the site via email.
3. Is the lot size a major advantage?
Yes. The lot is substantially larger than both neighborhood and city averages, offering valuable outdoor space and potential. On Shier Drive itself, however, it is closer to the average.
4. What does "Top 96%" mean for the street ranking?
A "Top 96%" rank for living area on its street means that 96% of comparable homes on Shier Drive are larger. It is ranked 44th out of 46, indicating it is one of the smaller homes on this particular block.
5. Could this be a good opportunity for renovation or expansion?
Given the large lot and the home's position as one of the smaller properties on a street of larger homes, there may be potential to add value through thoughtful additions or renovations, subject to local zoning and regulations.