Property Overview: 549 Niagara Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, one-storey home in Central River Heights built in 1950. Its primary appeal lies in its balance of a desirable neighbourhood location with a manageable scale. The home sits on a 4,309 sqft lot, which is spacious for the area and offers clear potential for gardening, expansion, or outdoor living. A key feature is the renovated basement, adding valuable finished space to the 1,044 sqft main floor living area. The property includes a detached garage.
It particularly suits first-time buyers or downsizers seeking a lower-maintenance, single-level layout in an established community without a massive footprint. The appeal is practical: it's a home that sits comfortably within its neighbourhood context, with a lot size that is a relative asset on the street. The 2022 sale price of $460k was above the city-wide average at the time, indicating strong demand for this location and property type. A thoughtful perspective is that while the living area is modest, the renovated basement and above-average lot size provide a foundation for both immediate livability and future value growth through updates or additions.
Frequently Asked Questions
1. How does the lot size compare to others nearby?
The land area of 4,309 sqft is below the average for Central River Heights overall but is actually closer to the average for Niagara Street itself. This means the yard is a competitive asset on its specific block.
2. Is the assessed value the same as the market value?
No. The municipal assessed value for taxation purposes is $41.70k, which is not an indicator of market value. The home last sold for $460k in October 2022. Market value is determined by current sale prices of similar homes.
3. What does "renovated basement" typically mean in a home of this era?
While specifics should be verified, in a 1950s one-storey home, this often means the basement has been finished into a usable living space, such as a family room or additional bedrooms, and likely includes updated moisture protection and insulation.
4. Who might this home not be suitable for?
It may not suit buyers looking for a large, modern open-concept layout without renovation work, or those requiring substantial main-floor square footage or attached garage convenience.
5. How does the age of the home factor in?
Built in 1950, it is newer than many homes on its street but older than the city-wide average. This era of construction offers solid craftsmanship but means buyers should budget for updates to major aging components like the roof, windows, or plumbing, even with a renovated basement.