Property Overview: 325 Montrose Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home on Montrose Street in North River Heights is defined by its significant scale and premium valuation within a well-established neighbourhood. Its primary appeal lies in offering above-average space on a generous lot, combined with a history of strong market performance.
The 2,124 sqft living area is notably larger than most homes in the city, neighbourhood, and even on its own street, placing it comfortably in the top tier for size. This is complemented by a land area of nearly 6,000 sqft, which is above average for North River Heights, suggesting valuable outdoor space and potential. The most striking characteristic is its assessed value of $941,000, which ranks in the top 1-2% across all comparison levels. This elite valuation, coupled with its previous sale in 2021 for over $1.1 million, indicates it is a high-calibre property in high demand.
Built in 1929, the home is older than many of its peers, which may appeal to buyers who appreciate classic character but should also factor in the considerations that come with a near-century-old structure. The ideal buyer is likely one seeking a substantial, established property in a prime location, with the financial capacity for a premium investment. It suits those who value space and prestige over a newer build, and who understand that such a standout property commands top-tier pricing in the market.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value of $941,000 ranks in the top 1% on the street and top 2% in North River Heights. This reflects the home's combination of larger-than-average living space, a generous lot, and its high sale price in 2021, which established a strong value benchmark.
2. What should I consider about a home built in 1929?
While offering classic charm, a home of this age may have outdated mechanical systems (like plumbing or electrical), insulation, or require foundation maintenance. A thorough inspection is essential to understand the condition and potential future investments needed to maintain or update the property.
3. How does the previous sale price inform its current value?
The home sold for between $1.1M and $1.15M in March 2021. This historical transaction sets a precedent and demonstrates the property's ability to achieve premium pricing, but current market conditions will ultimately determine today's value.
4. Is the lot size a major feature?
At 5,997 sqft, the lot is larger than the average for North River Heights, placing it in the top 18% for the area. This is a significant asset, providing more privacy, yard space, and potential than many properties in the community.
5. How can I get the exact historical sale prices?
The site provides estimated price ranges. To obtain the exact sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.