Property Overview
This two-storey home at 535 Niagara Street in Winnipeg's Central River Heights neighbourhood presents a balanced and practical offering. Built in 1950, it sits on a 4,524 sqft lot that is typical for its street but generous for the central neighbourhood. The 1,524 sqft living area is notably above average for both the area and the city, providing ample interior space. A key feature is the renovated basement, adding valuable finished square footage, and the property includes a detached garage. Its appeal lies in this combination of a well-sized home on a good lot in a desirable, established location, all at a value-oriented price point reflected in its assessment and last sale price. This property would suit first-time buyers or downsizers seeking character and space in a mature neighbourhood without a premium price tag, as well as value-conscious buyers who see potential in a home with foundational updates already started.
Frequently Asked Questions
1. How does the lot size compare to others in Central River Heights?
At 4,524 sqft, the lot is larger than most in this central neighbourhood, ranking in the top 4% locally. This offers more outdoor space than is typical for the area.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A viewing is essential to determine the finish quality, ceiling height, legal egress, and whether it includes a bathroom or kitchenette.
3. Is the detached garage a standard feature here?
Many older homes in central neighbourhoods have detached garages or none at all. This garage provides off-street parking and storage, but buyers should check its condition and size for modern vehicles.
4. The home is older—what should I consider?
Built in 1950, the home's major systems (roof, wiring, plumbing, insulation) may need evaluation or updating, even with a renovated basement. Its above-average living area for the city suggests a practical layout for modern living.
5. How does the assessed value relate to market price?
The assessed value is for municipal tax purposes. The home last sold in 2021 for $49,500, close to its current assessment. This indicates a historically stable value, but current market conditions will determine the listing and sale price.