Property Summary: 431 Louis Riel Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a well-situated, one-storey home in Central St. Boniface, built in 1946. Its key feature is a generous, approximately 4,637 sqft lot, which is notably above average for the immediate street and neighbourhood. While the living space (897 sqft) is compact, the property includes a renovated basement and a detached garage. The home last sold in July 2021 for $310,000, a price point that was competitive across the city at that time.

The primary appeal lies in its location and land. St. Boniface offers rich cultural history, community charm, and urban convenience. The lot size presents a significant opportunity for gardening, outdoor living, or future expansion—a rarity in established central neighbourhoods. This property would suit a first-time buyer or downsizer seeking an entry into a desirable area without a massive footprint, and who values outdoor space over a large interior. It’s also a practical option for an investor or handy homeowner comfortable with a character home, as the renovated basement adds functional space to the modest main floor.

Section 2: Frequently Asked Questions

1. Is the lot size a major advantage?
Yes. The land area is in the top third on its own street and top half in St. Boniface, meaning you get more outdoor space than many nearby properties. This adds privacy, potential, and value relative to its peers.

2. How does the home’s age affect things?
Built in 1946, it is actually among the newer homes on Louis Riel Street (top 4%), which is an interesting perspective. While this suggests potentially fewer immediate heritage concerns than older neighbours, buyers should still budget for the maintenance typical of an 80-year-old structure, such as updates to windows, roofing, or mechanical systems.

3. The living area seems small. Is the house functional for a family?
With 897 sqft plus a renovated basement, it offers compact but efficient living. It would likely suit a small family, a couple, or a single person best. The renovated basement is key, as it provides crucial additional space for a family room, office, or guests.

4. What does the assessed value tell us?
The municipal assessed value of $34,200 is for taxation purposes only and is not a market valuation. Its "above average" rank on the street suggests the city views the property favorably relative to its direct neighbours, likely due to the lot size and recent sale price.

5. The 2021 sale price was $310k. What does that indicate?
That sale price was around the city-wide average at the time, suggesting the property was seen as fairly priced for its combination of location, lot, and home. It serves as a recent benchmark, but current market conditions will determine today’s value.