Property Overview: 217 Ridgecrest Avenue, Riverbend, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on space and potential. Its key characteristic is a generous 8,095 sqft lot, which is significantly larger than most in the area, offering ample outdoor space for gardening, recreation, or future expansion. The living area of 1,294 sqft is comfortably above average for its immediate street. Built in 1920, it is the oldest home on the block, suggesting classic character but also a clear need for updates compared to the predominantly modern neighborhood.
The primary appeal lies in this combination of a sizable, desirable lot at a relatively accessible price point, as reflected in its below-average assessed value. It suits a specific type of buyer: those who prioritize land size over move-in-ready perfection. It’s an ideal project for a hands-on buyer looking to customize, an investor seeing long-term value in the lot, or a family willing to renovate over time to secure a larger property footprint in the Riverbend area.
A less obvious perspective is its positioning as a “value-entry” into a street of newer, higher-valued homes. For the right buyer, the lower purchase price could offset renovation costs while building equity in a well-located lot.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the neighborhood average?
The assessed value is influenced heavily by the home's age (1920) and likely its current condition relative to the much newer average home in Riverbend. The valuation appears to reflect the land value and the existing structure, accounting for the modernization it may require.
2. What does the sold price history indicate?
The home sold in December 2023 and previously in December 2017. The 2023 sale price band places it in the top 40% for its street but only the top 68% for the area, reinforcing the pattern of it being a stronger value on its specific block compared to the wider, newer neighborhood.
3. Are there concerns with a home built in 1920?
While offering charm, a home of this age will require a thorough inspection. Buyers should budget for potential updates to major systems like plumbing, electrical, and insulation, and be prepared for a different layout style than in modern homes.
4. How does the large lot size benefit me?
Beyond private outdoor space, a large lot provides flexibility. It could allow for additions like a garage, workshop, or deck. It also often means more distance from neighbors and can contribute significantly to the property's long-term resale value.
5. Where can I get exact historical sale prices for this home?
The site does not display MLS data. You can request the exact sold price history by emailing them directly for a manual lookup, as noted in the data disclaimer.