295 Ash Street

Property Overview: 295 Ash Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home at 295 Ash Street presents a classic North River Heights offering, built in 1920. Its key appeal lies in its established neighbourhood setting and a lot size that is generous for the area, at just under 5,000 square feet. With 1,424 square feet of living space, the home provides a practical footprint that is comfortably above the Winnipeg citywide average, though slightly more compact than many immediate neighbours. The 2024 assessed value of $413,000 sits below the local averages for Ash Street and North River Heights, potentially indicating room for value appreciation, especially when compared to its last known sale between $300,000-$350,000 in 2017.

This property would suit a specific buyer: someone drawn to character homes and mature neighbourhoods, who values a larger yard over maximizing interior square footage. It’s a practical entry point into a desirable area for a buyer comfortable with a home from the 1920s, likely prepared for updates or mindful of maintenance. The data suggests it’s not the largest or newest on the block, but offers solid fundamentals in a sought-after location at an assessed value that appears competitive within the wider city context.

Frequently Asked Questions

1. How does the assessed value compare to likely market value?
The $413,000 assessment is notably lower than the average for similar homes on Ash Street ($505k) and in North River Heights ($479k). While assessments are not market valuations, this gap can suggest the property is undervalued by the assessor or may reflect factors like its age and smaller living area. A current market appraisal would be essential.

2. What should I consider about a home built in 1920?
While offering charm, a 106-year-old home requires diligent inspection. Key focuses should be the foundation, original plumbing and electrical systems, insulation, and the roof. Budgeting for ongoing maintenance and potential updates is prudent. Its age places it among the older 10% of homes in the immediate area.

3. The home last sold in 2017 for between $300,000-$350,000. What does that mean today?
This past sale price provides historical context but does not determine current value. The increase to the current $413,000 assessment reflects market changes over seven years. For accurate pricing, you must look at recent 2024/2025 sales of comparable homes in North River Heights.

4. The lot is large for the area, but the house is smaller than neighbours. Is this an advantage?
This can be a significant advantage for the right buyer. It offers more outdoor space for gardening, play, or entertaining—a premium in established neighbourhoods. It also presents a long-term opportunity: the lot could potentially accommodate a future addition or expansion, subject to zoning and permits.

5. How does this home rank within the neighbourhood?
The data shows a mixed profile. It ranks highly for lot size (top 42% in the area) and is above average citywide for living area. However, it ranks lower for year built (top 91%, meaning it's older than 91% of area homes) and assessed value is in the top 67%, indicating it's valued lower than many peers. This positions it as a more modestly sized and valued home on a good-sized lot in a premium area.