Property Overview
This two-storey home at 660 Niagara Street in Winnipeg's Central River Heights neighbourhood presents a balanced offering for buyers seeking a well-located, established property. Built in 1953, it sits on a nearly 5,000 sqft lot that is notably larger than many on its street. The home features 1,416 sqft of living space, a renovated basement, and a detached garage. Its last sale was in 2016 for $390,000, and its current assessed value is $50,700.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of a generous, above-average lot size for the immediate area and a recently renovated basement, adding modern utility to a classic home. Its assessed value ranks consistently above average across the street, neighbourhood, and city, suggesting a solid intrinsic value. The home would suit a buyer looking for a character home in a desirable central neighbourhood, who values outdoor space and has perhaps outgrown a newer infill property with a smaller yard. It’s also a practical fit for someone comfortable with a home of this era, who appreciates the work already put into the basement but may be planning gradual updates to the main living areas over time. A less obvious perspective is that, while the living area is average, the favourable lot size offers valuable future potential, whether for gardening, expansion, or simply enjoying more private outdoor space than is typical in the area.
Frequently Asked Questions
1. What does the "above average" ranking for the lot size actually mean?
The data shows the 4,951 sqft lot is larger than 71% of comparable properties in Central River Heights, placing it in the top third for the neighbourhood. This is a key differentiator for the property.
2. Is the assessed value of $50,700 the same as the market value?
No. The assessed value is for municipal tax purposes. The market value is determined by recent sales and buyer demand, as indicated by its last sale price of $390,000 in 2016.
3. What should I consider about a home built in 1953?
While the renovated basement is a plus, prospective buyers should budget for potential updates to major systems common for the era, such as plumbing, electrical, or the roof, and consider an inspection to evaluate the condition of the original structure.
4. How does this home compare to the nearby reference properties?
It has a smaller living area than the listed comparables at 630 Queenston and 686 Brock Street, but its assessed value is in a similar range, highlighting that factors like lot size, condition, and specific location heavily influence value.
5. What is the significance of the detached garage?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the main house's layout. However, it may be less convenient during Winnipeg winters compared to an attached garage.