Property Overview: 116 Malmsbury Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 1984-built home in River Park South presents a practical opportunity with a distinct value proposition. Its key appeal lies in the balance it strikes: it offers a larger-than-average lot in a mature, established neighbourhood, while the home itself is of a modest, average size. At 6,350 sqft, the land area is notably above average for both the street and the wider neighbourhood, suggesting more outdoor space and potential than many comparable properties.

The home’s assessed value is below the immediate local averages, which can indicate a more accessible entry point into the area. This, combined with the above-average lot size, creates a scenario where the land may represent a significant portion of the property's value. The living space (1,120 sqft) is typical for the city, catering to essential needs without excess.

This property would suit first-time buyers or practical downsizers looking for a foothold in a stable Winnipeg neighbourhood like River Park South. It’s particularly suited for those who value private outdoor space or see potential in the lot itself, perhaps for gardening, expansion, or future redevelopment, more than in a move-in-ready, updated interior. The buyer should be prepared for a home that may require updates, as the below-average assessment relative to neighbours often reflects a need for modernization.

Section 2: Frequently Asked Questions

1. Why is the assessed value below the neighbourhood average?
While the exact reasons aren't specified, a below-average assessment in an otherwise typical area often points to factors like the home requiring updates, having a simpler layout, or featuring fewer renovations than neighbouring properties. It's a key point for further inspection and negotiation.

2. How does the larger lot size benefit me?
Beyond more yard space, a larger lot in a mature suburb can offer better privacy, room for additions like a shed or deck, and potentially greater long-term value as lot sizes in newer developments typically shrink.

3. Is the 1,120 sqft living area sufficient for a family?
This depends on the family's size and needs. It is a standard size for a smaller bungalow or split-level home, likely featuring 2-3 bedrooms. It provides the essentials but may feel cozy for a larger family compared to newer, more open-concept homes.

4. The home sold recently in 2024. What does that mean for me?
A recent sale provides a clear, modern price benchmark, reducing guesswork about current market value. It suggests the property is likely being resold quickly, so understanding the seller's motivation (e.g., investment flip, change in circumstance) would be important.

5. How can I verify the exact past sale price?
The public data shown is an estimate. To get the precise sale price and history, you must request a manual lookup from the site via email, as this information is not sourced from the MLS and requires verification.