Property Overview: 242 Lindsay Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home presents a distinct profile within the desirable North River Heights neighborhood. Built in 1914, it is a century-old property with a modest 1,076 sqft living area and a 3,002 sqft lot, both notably smaller than area averages. Its assessed value of $275k is significantly below the typical home in North River Heights, placing it among the most affordable properties in the area.
The primary appeal lies in its value proposition: entry into a well-established, central neighborhood at a lower price point. It suits practical, value-conscious buyers such as first-time homeowners willing to take on a character home, downsizers seeking a manageable footprint in a prime location, or investors looking for a rental property in a high-demand area. A thoughtful perspective is that its smaller scale and lower taxes could align with a minimalist or efficient lifestyle, while its age offers the charm and potential of a historic property, albeit with the understanding that maintenance and updates may be required.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
The assessment reflects key characteristics like the home's older age, smaller square footage, and more compact lot size compared to the larger, often newer homes that dominate North River Heights.
2. What should I consider with a home from 1914?
While offering character, a home of this age will likely require careful attention to foundational, electrical, and plumbing systems. A thorough inspection is essential to understand the condition and any needed updates.
3. Is the smaller lot size a major drawback?
It depends on your priorities. The lot requires less maintenance, which can be a benefit, but it also means limited space for expansions, large gardens, or extensive outdoor recreation compared to other properties in the area.
4. How reliable is the sold price data from 2017?
The listed sale from 2017 provides historical context, but it is not a current market valuation. Market conditions have likely changed, so this figure should be used as a reference point only, not an expected price.
5. Who would this property not suit?
It may not be ideal for buyers seeking a modern, move-in-ready home without renovation projects, or for families requiring substantial living space and a large yard typical of the neighborhood.