Property Overview

This home at 146 Riel Avenue presents a compelling mix of space, value, and potential. Built in 1967, its primary appeal lies in its generous, above-average lot size of nearly 10,000 sq ft—a standout feature that ranks in the top 10% on its own street and the top 6% city-wide. This offers significant outdoor space for gardening, recreation, or future expansion. The 1,238 sq ft living area is comfortably sized and typical for the immediate neighbourhood. A key financial highlight is its assessed value, which sits well above average for the area, suggesting strong underlying value and a desirable location within Minnetonka.

The property would suit a practical buyer who values land over a recently built home. It’s ideal for someone looking for a solid foundation in a mature neighbourhood, whether that’s a growing family wanting a large yard, a long-term investor attracted by the lot’s potential, or a homeowner comfortable with the maintenance and update projects common to houses of this era. Its appeal is less about modern finishes and more about the valuable land parcel and established community setting it occupies.

Frequently Asked Questions

1. How does the assessed value compare to the last sale price?
The home sold for an estimated $450k-$500k in 2021. Its current assessed value of $48,100 is significantly higher than area averages, indicating municipal assessment recognizes its value, particularly the lot size. Market price is determined by current conditions, but this disparity suggests a strong value basis.

2. What does the lot size actually mean for a buyer?
At nearly 10,000 sq ft, the lot is substantially larger than most in Winnipeg. This isn't just about a bigger lawn; it provides privacy, space for additions like a garage or workshop, gardening potential, and future development options subject to zoning.

3. The home is older than many on the street. Should I be concerned?
Built in 1967, it is among the older homes in the Minnetonka area. This typically means systems like roofing, plumbing, and electrical may be due for updates or have been partially renovated. A thorough inspection is essential, but older homes in mature neighbourhoods often feature more character and established landscaping.

4. Is the living space sufficient for a family?
At 1,238 sq ft, the living area is average for the street and slightly below average for the wider area. It provides standard room counts for its era. The generous lot size, however, offers valuable flexible space that can offset a moderately sized interior for the right buyer.

5. How do I find out the exact historical sale prices?
The provided sold price is a range based on public data. For precise sale history, you can request the exact figures directly via the email option on the listing page. This service is provided without obligation for marketing follow-up.