574 Montrose Street

Property Overview: 574 Montrose Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in Central River Heights is a property defined by its balance and potential. Built in 1950, it is notably newer than many homes on its street, suggesting potentially fewer concerns with very aged infrastructure. The 1,404 sqft living space is comfortably sized and aligns with typical city-wide averages, offering a practical footprint for daily life.

Its primary appeal lies in its generous 5,278 sqft lot, which is above average for the neighbourhood. This presents a significant opportunity for outdoor living, gardening, or future expansion. The home features a renovated basement and a detached garage, adding functional value. With a recently sold price and an assessed value significantly below the city-wide average benchmark, it represents a more accessible entry point into a desirable, established area.

This property would suit first-time buyers or practical downsizers seeking a character home in a central location without a premium price tag. It’s also a sensible match for value-oriented buyers who prioritize land size over a large interior and who see the appeal in a home that is newer than its immediate peers, possibly indicating a history of sensible updates.

Section 2: Frequently Asked Questions

1. How does the lot size compare to nearby properties?
The land area of 5,278 sqft is above average for Central River Heights, offering more outdoor space than many homes in the neighbourhood. However, it is slightly below the average lot size found specifically on Montrose Street itself.

2. Is the home older or newer than others in the area?
Built in 1950, this home is actually newer than the average house on Montrose Street. In the broader Central River Heights neighbourhood and city-wide, however, it is considered an older property.

3. What does the assessed value indicate?
The assessed value is below the average for Montrose Street but aligns more closely with averages for the wider neighbourhood and city. This can sometimes indicate a valuation that reflects the home’s specific characteristics rather than an inflated area premium, which may be appealing for property tax considerations.

4. How does the living space compare?
At 1,404 sqft, the living area is very close to the city-wide average for homes. It is smaller than the average on Montrose Street but slightly larger than the typical home in Central River Heights, positioning it as a comfortably average-sized home for the city.

5. The home sold recently. What does that data show?
The previous sale price was below the average for Montrose Street and the Central River Heights neighbourhood, consistent with its below-average assessed value for the street. This reinforces its position as a value-conscious option within this location.