Property Overview: 369 Campbell Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This 955 sqft home, built in 1936, sits on a 4,500 sqft lot in the established North River Heights neighbourhood. Its core appeal lies in being a competitively priced entry point into a desirable area. With an assessed value of $348,000, it sits significantly below the average for its immediate street and neighbourhood, yet aligns closely with the Winnipeg city-wide average. This presents a value proposition for gaining location without the typical area premium.
The home’s living space is modest, ranking below average for the area, suggesting a cozy, efficient layout ideal for individuals, couples, or small families. The lot size is fairly typical for North River Heights, offering a manageable outdoor space. A thoughtful perspective is that a smaller, well-maintained character home can offer lower utility costs and less upkeep than larger, older houses in the same area. This property would best suit first-time buyers, downsizers, or practical investors seeking a foothold in a prime neighbourhood without overextending financially, and who value location and lot potential over immediate square footage.
Section 2: Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While a key benchmark, the assessed value is for municipal taxation. The home last sold between $250k-$300k in mid-2020. Market conditions, property condition, and updates since then will ultimately determine the sale price.
2. How does the smaller living area compare practically?
At 955 sqft, the home is notably cozier than many in North River Heights (area average ~1,540 sqft). This often means efficient, classic layouts, potentially lower renovation costs, and an opportunity to maximize the usable space through thoughtful design.
3. What are the implications of the home being built in 1936?
This is a classic character home. Buyers should budget for a thorough inspection to understand the condition of aging components like wiring, plumbing, and the foundation, while also appreciating the potential for original architectural details.
4. The sold price history shows a significant increase in assessed value since 2020. What does this mean?
The jump from the 2020 sale price to the current $348k assessment reflects strong market appreciation for the area over the past five years. It underscores the neighbourhood's demand but doesn't guarantee a sale at the assessed value.
5. How does this property’s value rank city-wide versus in its immediate area?
This is a key nuance. The home’s value is below average for Campbell Street and North River Heights, but is around the Winnipeg city average. This highlights that you are paying for a sought-after location, with the property itself representing a more affordable option within that premium zone.