Property Overview
This 880 sqft property at E-778 Osborne Street in Winnipeg's Riverview neighborhood presents a practical and competitively positioned offering. Its key appeal lies in its strong standing within its immediate context. Built in 1989, it is notably newer than most comparable homes on its street and in Riverview, potentially suggesting fewer immediate concerns with aging infrastructure. With an assessed value of $212k, it sits above the local averages for both the street and the neighborhood, indicating a perception of solid value relative to its peers. The living area is modest but above the street average, fitting for efficient living.
This home would suit first-time buyers or downsizers seeking a lower-maintenance entry into a well-established neighborhood. It’s also a pragmatic choice for an investor looking for a relatively modern property in a stable area, where its newer build year could be a standout feature for tenants. The data suggests you’re paying a premium versus the immediate area's average prices, but for a property that ranks highly on key metrics like age and value within that same micro-market.
Frequently Asked Questions
1. How does this home’s 1989 build date actually benefit me?
Being significantly newer than area averages (1980 on Osborne St., 1978 in Riverview) can translate to updated electrical systems, more modern insulation, and potentially less looming expense for major replacements like roofing or windows compared to much older character homes.
2. The assessed value is above area averages. Is that good or bad?
It's a double-edged sword. It confirms the property is considered more valuable than many neighbors, which is positive for equity. However, it also means your property taxes will likely be higher than if the value were at or below the area average.
3. The living area is below the citywide average. Is it too small?
At 880 sqft, it is compact, but the data shows it's actually above average for both Osborne Street and Riverview. This indicates the home is appropriately sized for the specific locale, which is often characterized by efficient, cozier dwellings.
4. What does the sold price history from 2017 tell me?
The prior sale in the $150k-$200k range (top 59-77% of market) shows a history of solid value. For a precise price, you must request the exact figures. Comparing that past sale to the current $212k assessment is a starting point for understanding market movement, but a current appraisal is essential.
5. There are multiple units at 778 Osborne (A through F). What does this mean?
The listing for "E-778" and the nearby identical addresses suggest this is likely a condominium or townhouse complex. This impacts ownership structure, monthly condo fees (if any), and shared responsibilities for exterior maintenance, which are critical details to investigate.