Property Overview: 209 Lindsay Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home at 209 Lindsay Street presents a distinct value proposition within the desirable North River Heights neighborhood. Built in 1950, its 800 sqft living area is notably compact, ranking in the bottom 10% for size both locally and city-wide. This positions it as a true entry-point opportunity into an established area where larger homes are the norm. The assessed value of $358k sits below the neighborhood average but aligns closely with the wider Winnipeg average, suggesting you are paying a modest premium for the location rather than the structure itself.
The appeal lies in its generous 5,595 sqft lot, which is above average for North River Heights. This offers significant potential for expansion, gardening, or outdoor living—a rare find for a home of this price point in the area. It suits practical, value-conscious buyers: first-time homeowners seeking neighborhood over square footage, downsizers looking to maintain a large yard without a large house, or investors considering a strategic hold with future redevelopment potential. Its recent sale in late 2021 for an estimated $300k-$350k indicates a history as an affordable asset.
Frequently Asked Questions
1. Is this a "tear-down" or a renovation project?
Given the small living area relative to the large lot, some buyers may consider eventual replacement. However, its assessed value and recent sale history suggest it is currently functioning as a modest, livable home. It could suit either a gradual renovation or a long-term land-bank strategy.
2. How does the value compare to the neighborhood?
The home's assessed value is below the North River Heights average ($479k), but its lot size is above average. You are essentially investing more in the land than the existing structure, which is a common dynamic for older, smaller homes in mature neighborhoods.
3. What does the sold price history tell us?
It last sold in December 2021 for an estimated $300,000-$350,000. This indicates a likely quick appreciation in assessed value since that sale, which is common in recent markets. For exact historical figures, a manual records lookup is required.
4. Are there many similar small homes in the area?
No. This home is an outlier in size for North River Heights, where the average living area is nearly double. Comparable homes in price tend to be found in other neighborhoods, making this a unique, smaller-footprint option in this specific locale.
5. What is the immediate potential for this property?
The immediate use is as a compact, single-family home. The significant lot size offers clear potential for a future addition, garage, or landscape-driven outdoor living space, subject to local zoning and permits.