Property Overview: 5 Riverside Drive E, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 5 Riverside Drive E in Lord Roberts presents a distinct profile defined by its contrasts. Built in 1979, it is a notably newer construction compared to most homes on its street and in the established neighbourhood, potentially offering modern building systems and less immediate need for major updates. With 1,220 sqft of living space, it is a comfortably sized home that sits around the city-wide average, though it is smaller than most direct neighbours on Riverside Drive.

Its primary appeal lies in its value proposition within a desirable area. The assessed value is significantly below average for the street, suggesting a potentially lower property tax base and an accessible entry point into the neighbourhood. This combination of a newer build in a mature area at a lower assessed value creates a unique niche. It would suit pragmatic first-time buyers or downsizers seeking the location benefits of Lord Roberts without the premium price tag of a larger, character home. It also appeals to value-oriented investors or buyers who prioritize modern infrastructure over historic charm and are comfortable with a smaller lot size, which is a trade-off for the central location.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the street average?
While the exact methodology is not public, a lower assessed value often reflects specific factors of the property itself, such as its smaller lot and living area compared to neighbouring homes. It does not necessarily reflect the final market sale price, but it can indicate a relatively lower property tax burden.

2. As a 1979 build, what should I be aware of?
While newer than most area homes, a 1979 property is now 45+ years old. Key components like the roof, windows, and major mechanical systems (furnace, electrical) may be approaching or beyond their typical lifespan and should be carefully inspected.

3. How does the smaller lot size impact the property?
The lot is smaller than most on the street and in the city. This typically means lower maintenance, but also less private outdoor space and potential limitations for expansions like large decks or additions. It emphasizes the property as a home, not a land play.

4. The last sale was between $200k-$250k in 2019. What does that mean for today's price?
That sale price is a historical data point from over five years ago. It provides a baseline, but market conditions, interest rates, and the property's condition have likely changed significantly since then. It should not be used in isolation to determine current value.

5. What are the benefits of a newer home in an old neighbourhood?
You gain the established character, mature trees, and stable community of Lord Roberts while likely benefiting from more modern construction standards, insulation, wiring, and plumbing layouts. This can mean fewer immediate "old house" surprises and potentially better energy efficiency.