Property Overview: 377 Riverton Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1907, presents a classic character home opportunity in the Chalmers neighbourhood. Its primary appeal lies in its generous living space and a renovated basement. At 1,296 square feet, the living area is notably above average for both its street and the wider neighbourhood, offering more room than many comparable properties. The lot size is a standard city lot, typical for the area. A key feature is the renovated basement, adding valuable finished space. The home last sold in January 2023.

The property suits practical buyers looking for a character home with established space and some updates, without the premium of a new build. It’s a grounded option for someone who values interior square footage and a bit of history over a large yard or a modern foundation year. A thoughtful perspective is that while the home is older, its above-average living area for the locale suggests it may have been expanded or configured efficiently over time. The assessed value is consistent with the immediate area, indicating it’s priced within its market context rather than standing out as under or over-valued.

Frequently Asked Questions

1. What does "one & 3/4 storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has sloped ceilings following the roofline, with full-height walls only in the centre of the rooms. It offers the space of a two-storey home but with a distinctive, cozy character on the upper level.

2. How significant is the renovated basement?
A renovated basement adds immediate functional living space without the need for a major project. It’s a practical advantage, potentially providing room for a family room, home office, or additional storage. However, given the home's age, it's wise to inquire about the renovation's specifics, such as permits, moisture control, and ceiling height.

3. The home is over 100 years old. What should I consider?
While offering charm, an older home requires attention to aging components. A thorough inspection is essential to understand the condition of the foundation, plumbing, electrical systems, and the roof. The updated basement is a plus, but the main structure’s maintenance history is key.

4. How does the assessed value relate to the likely sale price?
The assessed value ($21,900) is for municipal tax purposes and is often lower than market value. The last recorded sale was $19,500 in early 2023. The sale price will be determined by current market conditions, the home’s updated condition, and buyer demand. It’s best used as a baseline, not an expected sale figure.

5. The lot seems average, but the living space is large. What does that indicate?
This suggests the home makes efficient use of its footprint, potentially through a thoughtful layout or additions over its long history. It means you’re getting more house than yard, which is ideal if indoor space is a priority but may be a consideration if outdoor privacy or landscaping is important to you.