Property Overview: 424 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 key appeal lies in its balance of a generous, above-average lot size for the area (over 4,000 sq ft) and a manageable, average-sized living space of approximately 1,040 sq ft. The property features an unrenovated basement and does not include a garage or pool.

The home’s assessed value is notably above average for both its immediate street and the broader Chalmers area, suggesting it is viewed as a solid asset within its local market. This positions it as a practical entry point into homeownership or a potential hold for a land-conscious buyer. It would suit a first-time buyer comfortable with a home that may require updates over time, an investor looking for a character property in a stable neighbourhood, or someone who values a larger outdoor space in the city without the maintenance of a massive house. A thoughtful perspective is that while the home is older, its lot size is a fixed asset that offers future flexibility, whether for gardening, expansion, or simply more privacy than newer, denser developments typically provide.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has sloped ceilings following the roofline, with full-height walls only in the center of the rooms. It offers more space than a bungalow but often with a cozier, character-filled feel than a full two-storey.

2. The assessed value is above average for the street. Is that good?
Generally, yes. It indicates the municipal assessment sees this property as more valuable than many of its direct neighbours, which can be based on factors like lot size, condition, or improvements. It's a positive sign for your equity in the local context, though market sale price can differ.

3. What are the implications of an unrenovated basement?
This means the basement is in original or functional condition but hasn't been modernized into a finished living space. It provides essential utility space and storage but offers a clear opportunity (and future cost) for a buyer to finish it to their own taste and needs.

4. How does the lot size compare practically?
At just over 4,000 sq ft, the lot is larger than most in Chalmers and on Riverton Avenue itself. This is a standout feature, offering more yard space for recreation, gardening, or outdoor living than is typical for homes in this price and age bracket in Winnipeg.

5. The home last sold in 2017. What should I consider?
The 2017 sale price provides a historical benchmark, but the current assessed value and market conditions have likely shifted since then. It’s most useful for understanding past turnover and should be combined with a current market evaluation and inspection to understand its present value and condition.