Property Overview: 675 Niagara Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Central River Heights sits on a generous 5,387 sqft lot, which is notably larger than most on its street. Built in 1953, it is a newer construction compared to many of its immediate neighbors. The home features 1,412 sqft of living space, a renovated basement, and a detached garage. It sold in August 2024 for $530,000, a price point that placed it above average for the neighborhood and city.
The primary appeal lies in its combination of a sizable, above-average lot in a mature, sought-after area, paired with the practical benefits of a modernized basement. It suits buyers looking for a solid home in a prime location with room to grow or garden, and who value a move-in ready lower level over a more recently built structure. A thoughtful perspective is that while the house itself is of average size for the area, the premium lot size offers valuable future potential, whether for expansion, outdoor living, or simply as a scarcity value in a developed neighborhood.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
The lot is in the top 19% on Niagara Street, about 500 sqft larger than the street average. This translates to more backyard space or side yard room than many surrounding properties.
2. Is the 1953 build date a concern?
While newer than many homes on the street (top 18%), it is a 70+ year-old structure. Buyers should prioritize a thorough inspection for aging components like plumbing, electrical, and the roof, balanced against the fact it’s not among the oldest in the area.
3. What does the "above average" sale price indicate?
Selling above the neighborhood and city averages suggests the property had specific desirable features—likely the renovated basement and larger lot—that commanded a premium in the market.
4. How does the assessed value relate to the sale price?
The assessed value was significantly lower ($48,100), which is common, as municipal assessments for tax purposes often lag behind market values. The sale price is the true indicator of its current market worth.
5. Who might this property not suit?
It may not be ideal for those seeking a very modern, open-concept layout, as the living area is average for the neighborhood. It also may not fit buyers wanting a brand-new home or an attached garage for Winnipeg winters.