Property Overview

This 862 sqft bungalow at 263 Fortier Avenue in Winnipeg’s River East neighborhood presents a specific value proposition. Built in 1959, it sits on a larger-than-average 6,261 sqft lot. The home’s assessed value of $304k is notably below the averages for both its immediate street ($356k) and the wider River East area ($401k), though it aligns more closely with the Winnipeg citywide average. Its last known sale was between $250k-$300k in late 2020.

Section 1: Key Characteristics & Appeal

The primary appeal of this property lies in its land value and entry-level positioning. The lot size is a standout feature, ranking above average city-wide and offering significant outdoor space or future expansion potential rare for the price point. The below-average living area and older build date indicate a home likely in need of modernization, framing it as a candidate for renovation or a hold for land value.

Its appeal is grounded in practicality rather than luxury. It would suit a first-time buyer comfortable with a project, an investor looking for a property with a valuable lot in a stable neighborhood, or someone seeking to minimize their property tax burden relative to the area. A less obvious perspective is that its consistent "below average" rankings in size and assessment for the immediate area might actually insulate it from sharper market downturns, as it has less premium to lose. It’s a straightforward property that offers more yard than house, appealing to those who see value in land and are willing to invest sweat equity or patience.

Section 2: Frequently Asked Questions

1. Is this a good value compared to the neighborhood?
Based on assessed values, this home is priced below the River East and Fortier Avenue averages. This suggests a lower entry cost into the area, but it typically reflects the home's smaller size and older construction.

2. What does the large lot size mean for me?
The 6,261 sqft lot is a significant asset. It provides ample yard space, greater privacy, and potential for additions, a garden, or future development, subject to city zoning bylaws.

3. The home is older and smaller than average. What should I budget for?
Buyers should anticipate potential updates to major systems (like roofing, plumbing, or electrical) common for a 1959 build. The smaller living area may also necessitate renovations to improve layout or functionality, so a thorough inspection and a renovation budget are advisable.

4. How reliable is the sold price data shown?
The site states sold prices are based on public internet data, not the MLS, and are presented as ranges. For fully verified and exact historical sale figures, you must request a manual lookup from the website via email.

5. Why is the city-wide assessment ranking higher than the street ranking?
While the home's value is below its own street's average, it ranks closer to the middle when compared to all Winnipeg homes. This indicates that property values on Fortier Avenue are generally higher than in many other parts of the city, so this listing represents a more affordable option within a desirable pocket.