Property Overview: 109 Riel Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a specific and practical value proposition in Winnipeg’s Minnetonka neighbourhood. Its key characteristic is its modest scale, with a living area of 936 sqft, which is notably smaller than most comparable homes on its street, in the area, and across the city. Built in 1944, it is also significantly older than the neighbourhood average. The lot size of 5,879 sqft is fairly typical for the city but offers a decent outdoor space relative to the home's footprint.

The primary appeal lies in its accessibility. With an assessed value substantially below local and city averages, it represents one of the most affordable entry points into homeownership in its market. This is not a move-in-ready showcase, but a foundational property. It would best suit a first-time buyer, an investor looking for a rental property, or a hands-on individual seeking a lower-cost project. The value is in the land and the opportunity, not in high-end finishes or size. A thoughtful perspective is that its smaller size and lower taxes could align well with a minimalist or efficient lifestyle, while its established lot offers potential for future expansion or gardening, subject to approvals.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's older age, smaller living area, and its market position relative to nearby homes. It is among the lowest assessed properties in both the immediate area and the broader Minnetonka neighbourhood.

2. What does the sold price history indicate?
The home sold between CA$200k–250k in 2020. This historical price, combined with its current low assessed value, suggests it has been positioned as an affordable option. For the exact sale price, you can request details via email from the listing service.

3. Is the smaller living area a major drawback?
It depends on your needs. At 936 sqft, it is compact and requires efficient use of space. It is below average in size for all comparison groups, making it ideal for individuals, couples, or those comfortable with a smaller footprint.

4. What should I consider about a home built in 1944?
While offering classic charm, a home of this age will likely require closer attention to maintenance, potential updates to systems like wiring or plumbing, and adherence to modern energy standards. A thorough inspection is highly recommended.

5. How does the lot size compare, and what does it offer?
At just under 6,000 sqft, the lot is around the city-wide average. It provides a good ratio of yard space to house size, which is a positive feature not always found with smaller homes and allows for outdoor living or future landscaping projects.