351 Maplewood Avenue

Property Overview

351 Maplewood Avenue is a 1,028 sqft home built in 1941, situated on a generous 6,397 sqft lot in Winnipeg's Riverview neighborhood. With an assessed value of $346k, it presents a specific value proposition centered on its land and location rather than the size or modern features of the house itself.

Key Characteristics & Appeal

The primary appeal of this property lies in its land-to-building ratio. While the living space is below average for the street, neighborhood, and city, the lot size is notably larger than most in the immediate area, ranking in the top 5% on its own street. This creates a clear opportunity for expansion, gardening, or outdoor living that many nearby properties cannot match. The assessed value is around the city-wide average, suggesting the price reflects the home's modest size but also captures the premium for its substantial lot.

It would suit practical buyers who see potential beyond the existing structure. This includes first-time buyers or downsizers comfortable with a home that may require updates, or investors and builders who value the lot's potential for a significant renovation or future redevelopment more than the current floor plan.

Frequently Asked Questions

1. Is the below-average living area a major drawback?
It depends on your needs. The home offers efficient, manageable space, which can mean lower utility and maintenance costs. The significant lot size provides a compensatory advantage, offering room to potentially expand the living area in the future.

2. How does the 1941 build year affect the property?
Built in 1941, the home is older than the city average but is typical for the well-established Riverview area. Buyers should budget for expected maintenance and potential updates to older mechanical systems, windows, or insulation, while also appreciating the character often found in homes of this era.

3. Why is the lot size considered such a key feature?
In a mature neighborhood like Riverview, large lots are rare. This lot is larger than 95% of those on Maplewood Avenue, offering valuable outdoor space, privacy, and future flexibility that are increasingly scarce and desirable in city living.

4. The home sold between $250k-$300k in 2020. What does that mean for today's value?
The previous sale price provides a historical benchmark, indicating significant appreciation relative to the current assessed value of $346k. This highlights market trends but does not guarantee the current listing price; a professional appraisal or comparative market analysis is needed for an accurate present value.

5. How reliable is the sold price data provided?
The site notes its sold price data is from public online sources, not the MLS, and is presented in broad ranges for non-members. For fully verified, exact historical sale figures, you must request a manual lookup from the site or consult directly with a real estate professional who has access to complete MLS records.