Property Overview: 323 Elm Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home stands out primarily for its generous interior space. With 2,756 sqft of living area, it ranks in the top 1-3% compared to homes on its street, in North River Heights, and across Winnipeg. This significant size advantage is paired with an assessed value of $661k, which is consistently above average, placing it in the top 5-12% across the same comparisons. The property offers a classic, established feel, built in 1930, with a lot size of 4,821 sqft that is typical for the immediate area.
Its core appeal lies in offering substantial square footage in a desirable neighbourhood, a combination that often commands a premium. The data suggests you are paying more for the interior volume and location than for an exceptionally large lot or a recently built home. It would suit buyers who prioritize spacious, character-filled homes and value established, tree-lined neighbourhoods. It’s ideal for those needing ample room for a family or home offices, and who appreciate a property that holds strong value stature city-wide. A thoughtful perspective is that while the home is older, its elite ranking for size indicates a layout or additions that modernize its utility, making it a historically grounded property with practical, contemporary space.
Frequently Asked Questions
1. How does the home’s age affect its value and potential costs?
Built in 1930, the home is older than the city-wide average. While this contributes to its character, prospective buyers should budget for potential updates to systems like plumbing, electrical, or windows, and consider a thorough inspection. Its strong assessed value indicates these factors are already reflected in its market position.
2. The living area is in the top 1%, but the lot size is average. What does this mean?
This indicates the home’s footprint likely utilizes its lot efficiently, possibly with multiple stories or thoughtful additions. It prioritizes interior living space over expansive outdoor grounds, which is typical for sought-after established neighbourhoods.
3. What do the sold price ranges from 2019 and 2021 tell us?
The previous sales, in the $600k-$700k range, show consistent, above-average sale prices for the area and city at those times. This history supports the trend of strong value retention and demand for properties with these characteristics in this location.
4. The assessed value is high, but not as elite as the living area rank. Why?
Assessment considers multiple factors, including age, condition, and lot size. The home’s age and average lot size likely moderate the assessment, despite the premium for its exceptional square footage and location. This can sometimes present a value opportunity if the interior space is a primary driver for the buyer.
5. How reliable is this sold price data?
The displayed sold price ranges are based on publicly available data, not the MLS. For fully verified, exact historical sale figures, you must request a manual lookup via email from the site provider, as industry rules prevent the display of official MLS records here.