Property Overview: 23 Lochspur Lane, Riverbend, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Riverbend home presents a compelling mix of space, value, and established community living. Built in 1987, it is one of the newer homes on its street. The property stands out for its generous 6,314 sqft lot, which is larger than most in the Riverbend neighborhood, offering ample outdoor space. With 1,213 sqft of living area, the home is a practical size, slightly below the street average but aligned with area norms.
The appeal lies in its strong value proposition. The home's assessed value of $447k is consistently above average for the street, neighborhood, and city, suggesting it is a substantial property within its market tier. Its last known sale was between $300k-$350k in early 2019, indicating significant equity growth since then. This property would suit value-conscious buyers seeking an established neighborhood with room to grow. It’s ideal for those who prioritize a larger yard over a maximized interior footprint and appreciate a home that holds its own in terms of assessed value against its peers. A thoughtful perspective is that while the living area is modest, the above-average lot size and assessed value point to a property where the land and overall worth are the primary assets, which could appeal to future-minded buyers.
Section 2: Frequently Asked Questions
1. Is the living area too small for the neighborhood?
While the home's living area is below the specific street average, it ranks around the neighborhood and city-wide averages. It represents a more efficient use of space on a larger-than-average lot, which may be a preferred trade-off for some buyers.
2. Why is the assessed value so much higher than the last sold price?
The assessed value ($447k) is a current municipal valuation for taxation, reflecting market conditions and property characteristics. The last sold price (estimated $300k-$350k in 2019) is historical and demonstrates the property's appreciation over a six-year period, highlighting its increased market value.
3. How does the lot size compare, and what does it offer?
The lot is a key feature. At over 6,300 sqft, it is larger than approximately 84% of lots in Riverbend and offers significant outdoor potential for gardening, recreation, or expansion, which is less common in newer subdivisions.
4. What does it mean that the home is "newer" on the street?
Built in 1987, it is the newest among the 11 comparable homes on Lochspur Lane. This can suggest potentially fewer immediate concerns with major aging components (like roofing or foundation) compared to older homes, assuming similar maintenance.
5. How can I get the exact historical sale price?
The site provides sold price ranges for general research. Due to industry regulations, exact sale figures are not published online here. You can request the full, verified transaction history by emailing the site directly for a manual lookup, which they provide without obligation.