388 Brandon Avenue

Property Overview: 388 Brandon Avenue, Riverview, Winnipeg

Key Characteristics & Appeal

This 1,300 sqft home, built in 1913, presents a solid, character-filled option in the established Riverview neighborhood. Its primary appeal lies in its strong value proposition within its immediate locale. While its lot size is modest compared to broader area averages, the home itself is notably spacious for Brandon Avenue, ranking in the top 12% for living area on its street. With an assessed value of $300k, it sits above the street average but notably below the averages for both Riverview and Winnipeg overall. This positions it as a relatively affordable entry into a mature neighborhood, offering more interior space than many direct neighbors without the premium price tag of larger-lot properties.

The home would suit a first-time buyer or downsizer seeking character in a convenient location, who prioritizes interior space over extensive outdoor yard maintenance. It’s a pragmatic choice for someone looking for a home that stands out positively on its own block in terms of size and value, while accepting that its vintage will likely involve upkeep considerations typical of a 110-year-old structure.

Frequently Asked Questions

1. How does the assessed value relate to likely market price?
The assessed value of $300k is for municipal tax purposes and is a historical snapshot. Given it's above the street average but below the area average, it suggests a competitive position. However, market price is determined by current conditions, the home's specific state, and buyer demand.

2. What does the lot size comparison mean for me?
At 2,500 sqft, the lot is average for Brandon Avenue but significantly smaller than many lots in Riverview and Winnipeg. This means lower maintenance but also limited potential for expansions or additions that require space. Outdoor privacy and gardening space may be more limited compared to neighbors on larger plots.

3. The home sold between $250k-$300k in late 2020. What can that tell me?
This past sale gives a benchmark, but market conditions have likely shifted since then. The price range indicates it has been a more affordable option in the area. A buyer should request the exact sold price and research current comparable sales for an up-to-date analysis.

4. As a home from 1913, what should I be prepared for?
While updated systems are possible, a home of this age typically requires a diligent inspection for foundational integrity, plumbing, electrical wiring, and insulation. Its vintage also brings character and craftsmanship, but budgeting for ongoing maintenance and potential updates is wise.

5. How does this home compare to the property next door at 389 Brandon Avenue?
The provided data shows 389 Brandon Ave (1912) is smaller (1,120 sqft) and has a lower assessed value ($235k). This highlights that 388 Brandon offers more interior space, which is reflected in its higher assessment, suggesting it may be a more substantial or updated structure on the same street.