Property Overview: 634 Campbell Street, Winnipeg
Key Characteristics & Appeal
This single-storey home on a generous 6,001 sqft lot in Central River Heights presents a straightforward opportunity with specific appeal. Its key characteristic is the land itself—the lot size is well above average for both the immediate street and the broader neighbourhood, ranking in the top 15% on Campbell Street. This offers valuable outdoor space and potential in a mature, established area. The home, built in 1951 with 1,064 sqft of living space, is modest in size and typical for its vintage. A recently renovated basement and a detached garage are noted features.
The primary appeal lies in its positioning as a land-value proposition in a desirable central neighbourhood. It suits buyers looking for a foothold in River Heights without a premium price for a large or modern house. It would be a practical fit for a first-time buyer comfortable with a home of this era, an investor interested in the lot's long-term potential, or someone seeking a lower-maintenance property where value is anchored more in the location and land than in the existing structure. A thoughtful perspective is that while the house is average for its immediate surroundings, the lot provides a relative rarity—extra space—that isn't always available in such central locales.
Frequently Asked Questions
1. Is the price reflective of a "tear-down" property?
Not necessarily. While the lot is a significant asset, the home is livable and has updates like a renovated basement. The price likely reflects the value of a modest, older home on a large lot, appealing to both those wanting to live in it now and those considering future redevelopment.
2. How does the assessed value relate to the sale price?
The property last sold in July 2023 for $37,500, which is slightly below its current assessed value of $39,500. This suggests the market price is closely aligned with the city's assessment, indicating stable and transparent valuation.
3. What does "below average" living area for the neighbourhood mean?
With 1,064 sqft, the home's interior is smaller than many in Central River Heights. Buyers should expect compact, efficient living spaces characteristic of its 1950s build, with the renovated basement offering potential additional usable space.
4. Is the detached garage a standard feature here?
Yes, the data confirms a detached garage. For a home of this vintage, a garage is a valuable asset for storage and vehicle protection, though its condition and size would need verification via a viewing or inspection.
5. The lot is large, but what about the house's condition?
The listing highlights a renovated basement, which is a positive. However, given the home's age (75 years), a prospective buyer should prioritize a thorough inspection of major systems like the roof, plumbing, electrical, and foundation to understand any needed updates or maintenance.