Property Overview: 550 Queenston Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Central River Heights is distinguished by its generous proportions and established neighbourhood setting. Built in 1953, its primary appeal lies in its significant living space. At 2,378 sqft, the home offers substantially more room than most in the area, ranking in the top 2% of the neighbourhood and top 4% city-wide. This makes it a standout for buyers seeking a spacious interior without moving to a newer suburb.
The property sits on a 5,386 sqft lot, which is above average for its street and provides ample outdoor space. A key feature is the renovated basement, adding functional living area. The home includes a detached garage. Its assessed value and recent sale price position it well above average for the area, reflecting its desirability and the premium for its size and location.
This home would best suit a buyer who values established, tree-lined neighbourhoods and prioritizes interior space over a brand-new build. It’s ideal for a growing family needing multiple rooms or dedicated spaces for work and hobbies, or for someone who appreciates the character and larger lot sizes of Central River Heights. The 2023 sale price indicates it appeals to buyers willing to invest in a prime, spacious property in a sought-after location.
Section 2: Frequently Asked Questions
1. How does the home’s size compare practically?
With living space ranking in the top 2% for the neighbourhood, this home offers roughly 1,000 more square feet than the area average. This translates to potentially more bedrooms, larger common areas, or dedicated spaces like a home office or playroom that are harder to find in other Central River Heights homes.
2. What does the "renovated basement" likely mean?
While specifics aren’t listed, a renovated basement in a home of this era and calibre typically means it’s been finished into a livable space, possibly including a recreation room, additional bathroom, or guest suite. It’s a significant value-add, effectively increasing the usable square footage beyond the already generous main floors.
3. The home sold for $820k in 2023, but the assessed value is much lower. Why?
Assessed value, used for calculating property taxes, is an administrative valuation that often lags behind the dynamic real estate market. The sale price is the true market value, reflecting what a buyer recently paid for the home’s specific attributes, location, and condition.
4. Is the 1953 build date a concern?
The year built is actually above average for the neighbourhood. While it implies systems like plumbing or electrical may need updating if not already done, homes from this period in River Heights are often prized for their solid construction, architectural character, and larger room proportions compared to many newer builds.
5. How does the detached garage impact usability?
A detached garage offers flexibility—it can be a workshop or project space without concerns about fumes or noise in the house. However, it means a walk to and from your vehicle in Winnipeg’s winter months, which is a trade-off compared to the convenience of an attached garage.