Property Overview: 287 Niagara Street, Winnipeg
Key Characteristics & Appeal
This home at 287 Niagara Street in North River Heights presents a compelling mix of established character and above-average valuation. Built in 1922, it is one of the older homes on its street, offering the classic charm and potential architectural details of its era. With 1,420 sqft of living space, it provides a comfortably sized layout that is very typical for the neighbourhood.
The property’s primary appeal lies in its strong assessed value of $574,000, which ranks within the top 17% of homes in North River Heights and the top 10% city-wide. This suggests it is perceived as a premium property within its market, likely due to factors like condition, updates, or specific location advantages not fully captured by the basic metrics. The lot, at 4,307 sqft, is slightly smaller than others in the immediate area but remains a good-sized urban parcel.
This home would suit a buyer who appreciates the established, tree-lined feel of North River Heights and is looking for a property with a solid valuation foundation. It’s ideal for someone not intimidated by the maintenance considerations of a century-old home but who sees value in its character and entrenched neighbourhood appeal. The data indicates it may be a sound choice for a buyer viewing real estate as a long-term investment in a desirable area, where the home already stands out in terms of official assessment.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
A higher assessment often reflects significant updates, renovations, or premium lot features. It suggests the municipality recognizes a value in this property that exceeds the basic norms for its size and age, which can be a positive indicator of its condition or desirability.
2. What should I consider with a home built in 1922?
While offering charm, a home of this age requires diligent attention to aging components. A thorough inspection is essential to understand the state of major systems like wiring, plumbing, and the foundation, as well as the efficiency of windows and insulation.
3. How does the lot size compare and what does it mean for me?
The lot is slightly below the average for North River Heights but remains generous. It provides ample yard space for gardening or recreation while potentially requiring less maintenance than larger lots on the street.
4. The home last sold in 2017. How can I find out the exact sale price?
The site provides sold price ranges for reference. To obtain the exact historical sale figures and a verified transaction history, you can request that information directly via email through the provided form on the property page.
5. The living area is average for the area, but the value is high. Is that typical?
Not always. This discrepancy highlights that square footage is just one factor in valuation. The premium is likely driven by other qualities, such as high-end finishes, a desirable floor plan, landscaping, or a particularly quiet or convenient spot on the street.