Property Overview: 275 Waterloo Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is a classic 1923 bungalow in the established North River Heights neighbourhood. At 936 sqft, its living space is notably compact compared to most homes on its street and in the area, positioning it well for buyers seeking a lower-maintenance footprint without sacrificing location. The lot size of 4,820 sqft is typical for the neighbourhood, offering decent outdoor space.
Its primary appeal lies in its value proposition within a desirable area. The assessed value of $405k is below the street average but aligns closely with the wider city average, suggesting you are paying for the location rather than a large or modernized house. This creates an accessible entry point into North River Heights. The home would suit a first-time buyer, a downsizer, or an investor looking for a character property with renovation potential. Its age (103 years) means charm is likely paired with a need for updates, appealing to those with a vision for gradual improvement rather than a move-in-ready perfectionist.
A less obvious perspective is its potential as a strategic hold. The data shows it last sold between $300k-$350k in late 2020. Its current assessed value, combined with its "below average" size on a street of larger, higher-value homes, could indicate room for value growth through thoughtful updates, making it a candidate for equity building.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($405k) is for municipal tax purposes and is a starting point. Market conditions, the home's interior condition, and recent comparable sales ultimately determine price. Notably, its assessment is average for the city but below average for its immediate street.
2. The living area seems small. How does that impact living here?
At 936 sqft, the home is significantly smaller than the North River Heights average. This means efficient use of space is key. It's best suited for individuals, couples, or small families comfortable with a cozy, traditional layout typical of its era.
3. What does the age of the home (1923) mean for a buyer?
A 103-year-old home offers character and likely solid construction, but it also means critical attention should be paid to the condition of major systems (roof, plumbing, electrical, foundation) and insulation. Budgeting for maintenance and potential updates is essential.
4. How does the lot size compare, and what are the implications?
The 4,820 sqft lot is slightly below average for Waterloo Street but very typical for North River Heights. It provides a good-sized yard for the area without being overly burdensome to maintain, a balanced feature for the neighbourhood.
5. Can I find out the exact price it last sold for in 2020?
The site shows a sold price range of CA$300k–350k. To obtain the exact figure, you must request a manual lookup via email from the service, as they do not display MLS sold records directly on the site.