Property Overview: 262 Oak Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home at 262 Oak Street is a well-established property in the desirable North River Heights neighbourhood. Built in 1927, it offers 1,702 sqft of living space on a 4,824 sqft lot. The data presents a picture of a solid, above-average offering within the wider Winnipeg market. Its assessed value of $548k ranks within the top 20% for the area and top 13% city-wide, indicating a premium position relative to many other homes. The living space is comfortably above the city-wide average, providing ample room.
The appeal lies in its strong neighbourhood positioning and the value it represents. It’s a home that holds its own on its street while offering more space and a higher assessed value than many properties across Winnipeg. It suits buyers looking for character in a mature, sought-after area, who appreciate a home with established roots and a lot size that allows for garden space and privacy. A thoughtful perspective is that while the home is older, this often comes with mature landscaping, built-in character, and a settled streetscape that newer subdivisions can’t immediately replicate. It’s ideal for someone who values community history and a stable investment in a prime area over a brand-new build.
Frequently Asked Questions
1. How does this home truly compare to others in North River Heights?
The data shows it’s above average for the neighbourhood in terms of assessed value (top 20%) and living area (top 32%). This suggests you are getting a home that is both more valuable and slightly larger than many area properties.
2. The home was built in 1927. What should I consider?
While the structure is sound and has stood for nearly a century, a home of this age will likely have older mechanical systems (like plumbing or electrical) and will require a diligent inspection. The potential for charming original details is balanced by the need for prudent maintenance and updates.
3. What does the sold price history from 2016 tell us?
The home sold for between $400k-$450k in 2016. The increase to its current $548k assessed value reflects market appreciation over eight years. This history indicates a property that has grown in value, consistent with trends in established neighbourhoods.
4. Is the lot size a pro or a con?
At 4,824 sqft, the lot is slightly below the average for Oak Street but very close to the average for North River Heights. It provides a generous urban yard—large enough for outdoor living and gardening without the extensive maintenance of a much larger plot.
5. How reliable is this comparative data?
The rankings are based on publicly available assessment and sale data, providing a useful benchmark. For complete accuracy, especially for exact historical sale prices, verified figures should be requested directly, as the site notes it does not use MLS data.