Property Overview: 585 Niagara Street, Central River Heights
Key Characteristics, Appeal & Ideal Buyer
This well-situated 1953 one-storey home in Central River Heights sits on a notably large, deep lot (over 6,700 sq ft), placing it in the top tier for land size both on its street and within the desirable neighbourhood. The home itself offers 1,546 sq ft of living space, which is comfortably above average for Winnipeg, and features a renovated basement and a detached garage. Its assessed value is consistent with the area, and it last sold in June 2024.
The primary appeal lies in its generous outdoor space and established location. The lot size is a significant asset, offering rare potential for expansion, gardening, or private outdoor living in a central area. The renovated basement adds immediate functional living space. This property suits buyers looking for a solid, character-home foundation in a prime neighbourhood, with the land to potentially customize or expand over time. It’s ideal for those who value space and location over a brand-new build, and who see the value in a home that already has key updates like the basement, while leaving room for personalization.
Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is exceptionally large for Central River Heights, ranking in the top 7% of the neighbourhood. It is significantly larger than the area average, offering a substantial backyard that is uncommon for central locations.
2. Is the home considered older for the area?
Built in 1953, it is actually newer than many homes on Niagara Street and is near the average age for the wider neighbourhood. It’s a mature home but not among the oldest in the area.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specific finishes and the scope of work (e.g., legal suite, moisture proofing) should be verified with the seller or during a viewing to understand its condition and permitted use.
4. How does the sale price relate to the assessed value?
The home sold for $455,000 in June 2024, which is close to its $470,000 assessed value. This suggests the sale was aligned with municipal valuation and recent market conditions at that time.
5. What is the neighbourhood context of Niagara Street?
The data shows that for key metrics like lot size and living area, this home consistently performs above the average for Central River Heights, indicating it is a strong contender within an already sought-after neighbourhood.