Property Overview: 345 Balfour Avenue, Riverview, Winnipeg
Key Characteristics & Appeal
This 1921 home in Riverview presents a distinct value proposition. Its key characteristic is a notable imbalance between its physical attributes and its assessed value. The living space (1,612 sq ft) is comfortably above average for the street, neighborhood, and city, and it sits on a generous lot that is well above the neighborhood norm. However, its assessed value of $246k is significantly below local averages, ranking it near the bottom of the street. This suggests a property that may require modernization or investment but offers substantial square footage and land for the price.
Its appeal lies in its potential. For a buyer willing to undertake renovations, it represents an opportunity to add value in a desirable area. The lot size is a particular asset, offering space for gardens, expansion, or outdoor living that is less common in the neighborhood. It would suit practical, value-conscious buyers such as renovators, investors looking for a property with clear upside, or families prioritizing interior and yard space over a move-in-ready condition. It’s less suited for those seeking a fully updated home without project work.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
This is typically due to the home’s condition, features, and recent market activity compared to nearby properties. A lower assessment often reflects a need for updates or repairs that neighboring homes may have already addressed.
2. What does the sold price range (CA$250k–300k) indicate?
The recent sale in this range, well below the area's average assessed values, confirms the market priced the home according to its current state. It solidifies its status as a value-priced entry point into the neighborhood.
3. Are there concerns with a home built in 1921?
While offering classic charm and solid construction, a home of this age will likely have older systems (like plumbing, wiring, or heating). A thorough inspection is essential to understand the scope and priority of any updates needed.
4. How does the lot size benefit a buyer?
At over 6,300 sq ft, the lot is larger than most in Riverview. This provides more private outdoor space, better potential for landscaping, and possible future options like adding a garage or deck that might not be feasible on a standard lot.
5. Where can I get exact historical sale prices?
The provided sold price is an estimated range from public records. For fully verified and exact sale figures, you must request a manual lookup from the site via email, as MLS data is not displayed here due to industry regulations.