Property Overview: 278 River Road, Minnetonka

Key Characteristics & Appeal

This home at 278 River Road presents a compelling mix of space, value, and a well-established neighbourhood setting. Built in 1983, it is notably newer than many homes on its street and in the wider Minnetonka area, which can be appealing for those seeking a property with potentially fewer major age-related updates in the near term.

The 1,572 sqft living area is above the city-wide average, offering comfortable space, while its assessed value consistently ranks above average across all comparison levels—street, area, and city. This suggests a strong perceived value relative to its peers. A key consideration is the lot size of 5,353 sqft, which is below average for both River Road and Minnetonka. This translates to a lower-maintenance yard, which could be a benefit for some, but less ideal for those seeking extensive outdoor space.

The home’s core appeal lies in its efficient package: generous above-average living space in a solid, newer construction, with a tax assessment that reflects good value. It last sold between $350k-$400k in 2017. It would suit first-time buyers or downsizers looking for a manageable property in a mature neighbourhood without sacrificing interior room. It’s also a practical fit for buyers who prefer a smaller yard to maintain.

Frequently Asked Questions

1. What does the "above average" assessed value ranking mean?
It means the property’s official assessed value for tax purposes is higher than most comparable homes on its street, in Minnetonka, and across Winnipeg. This often correlates with a higher market value and can indicate the property is in good standing relative to its peers, though it's not a direct appraisal of sale price.

2. The lot size is noted as "below average." How significant is this?
On River Road and in Minnetonka, lots are typically larger. This property’s lot is about half the average size for the street. This means less private outdoor space and potentially closer proximity to neighbours, but also significantly less yard work and maintenance.

3. The home was built in 1983. What should I consider about its age?
While newer than many area homes (placing it in the top 21% for year built locally), it is now over 40 years old. Key systems like the roof, windows, furnace, and plumbing may be nearing or past their typical lifespans and should be carefully inspected.

4. How reliable are the sold price ranges shown?
The provided price ranges ($350k-$400k for the 2017 sale) are based on public data. The listing service offers to provide the exact sale price via email, as this precise figure is not publicly disclosed in all records. This is a standard practice for obtaining accurate historical data.

5. The home ranks well for living area city-wide but is "around average" on its street. Why?
This highlights the character of River Road. The street appears to consist of homes with larger-than-city-average square footage. So, while this home feels spacious compared to a typical Winnipeg house, it is more typical among its immediate neighbours, suggesting a consistent scale on the block.