Property Summary: 306 Riverton Avenue

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1907, presents a classic Winnipeg character property with practical updates. Its key appeal lies in a combination of above-average space and a renovated basement, all situated on a generously sized lot for its neighbourhood. At 1,160 sqft of living area, the home is notably larger than many comparable houses in the immediate area and the wider Chalmers neighbourhood. The 4,031 sqft lot is also in the top tier for the street, offering valuable outdoor space and potential.

The home’s assessed value ranks highly within its local context, suggesting it is viewed as a solid asset relative to its peers on Riverton Avenue and in Chalmers. The detached garage adds functional storage or workshop space. A thoughtful perspective for buyers is the home’s "below average" year built city-wide: while it requires due diligence common to older homes, it also represents a piece of established, historic streetscape that newer subdivisions cannot replicate.

This property would best suit a buyer looking for a character home with room to breathe, who values a strong value proposition within a specific community over a city-wide comparison. It’s a practical choice for someone comfortable with the upkeep of an older home but appreciative of a renovated basement and a larger-than-typical lot in the area.

Section 2: Frequently Asked Questions

1. What does the "above average" assessed value ranking mean?
It means that compared to similar homes on Riverton Avenue and in the Chalmers neighbourhood, this property’s official assessed value is in the top 12% and 7%, respectively. This typically indicates the property is considered a higher-value asset within its immediate local market.

2. Is the lot size a significant feature?
Yes. The land area of 4,031 sqft is in the top 20% for Riverton Avenue, meaning the lot is larger than most on the same street. This provides more private outdoor space and potential for gardening, expansion, or additions, subject to local bylaws.

3. The home was built in 1907. What should I be mindful of?
While the basement has been renovated, a home of this age requires a thorough inspection. Key focuses should be the foundation, original plumbing and electrical systems (and updates thereto), insulation, and the roof. The character comes with a responsibility for proactive maintenance.

4. How does this home compare to the Winnipeg average?
This is a neighbourhood-centric property. While its living space is near the city-wide average, its lot size and assessed value are below the Winnipeg average, which is skewed by newer, larger suburban homes. Its strengths are most apparent when compared locally, not city-wide.

5. Are the nearby "similar assessed value" properties comparable homes?
Not necessarily. The listed addresses (e.g., in Varsity View, Elmhurst) share a similar assessed value but are in different neighbourhoods. This highlights how assessment value can be equal across different markets; the key comparison should be with the "Worth viewing" properties on Riverton Avenue itself, which share the same location and vintage.