576 Niagara Street

Property Overview: 576 Niagara Street, Winnipeg

Key Characteristics & Appeal

This well-situated one-storey home in Central River Heights sits on a notably large lot, which is its most distinguished feature. The land area of over 7,000 sq ft ranks in the top 5% for Niagara Street, offering substantial outdoor space that is rare for the area. The home itself, built in 1952, provides a renovated basement and a functional living space that is above average in size for both the neighbourhood and the city. A detached garage adds practical storage or workshop potential.

The primary appeal lies in the combination of a prime, established neighbourhood and the significant lot size, which presents a long-term opportunity. For the right buyer, the property offers a comfortable home today with the future potential for expansion, garden development, or simply enjoying one of the larger private yards in the community. It would suit a buyer who values space and location over a modern, turn-key build—perhaps a young family looking to grow into a property, a downsizer wanting a manageable single-level home with room for gardening, or an investor recognizing the inherent value in the land. The above-average assessed value for the street and area reflects this underlying asset strength.

Frequently Asked Questions

1. How does the lot size compare to typical properties?
The lot is exceptionally large for Niagara Street, ranking in the top 5%. At 7,084 sq ft, it is significantly larger than the street average of about 4,870 sq ft, offering a substantial amount of private outdoor space.

2. Is the home recently updated?
The listing specifies a renovated basement. The main living area, while functional and above average in size for the city, is part of a home built in 1952, so buyers should anticipate character consistent with its era.

3. What does the "above average" assessed value indicate?
The assessed value is above average for the street, neighbourhood, and city. This often reflects the value of the desirable lot size and location in Central River Heights, not necessarily premium finishes in the dwelling itself.

4. Who might this property not suit?
It may not be ideal for someone seeking a completely modern, low-maintenance home without any future projects. The appeal is grounded in the space and potential, rather than in high-end, contemporary renovations.

5. How does the last sale price relate to the current assessed value?
The home sold for $44,100 in 2017. The current assessed value is $52,700, which is a typical increase over that period and aligns with broader market trends and the property's strong lot value.