Property Summary: 431 Montrose Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 431 Montrose Street in North River Heights is a classic, compact property built in 1944. Its key characteristic is a clear value proposition: a well-sized lot of nearly 6,000 sqft in a desirable neighbourhood, paired with a modest 995 sqft living area. This creates a distinct profile. The appeal lies in its efficient footprint and the potential of its generous outdoor space. For its assessed value of $435k, it offers a competitively priced entry into a mature, established area where many comparable homes are valued higher.
This property would suit a specific type of buyer. It’s ideal for a first-time homebuyer, a downsizer, or an investor seeking a lower-maintenance home with a solid lot in a prime location. It appeals to those who prioritize location and land over square footage, and who may see potential in the existing structure or value in the possibility of future expansion or garden use. A thoughtful perspective is that this home represents a "land play" in a neighbourhood where the lot itself holds significant value; the smaller house makes the purchase price accessible, while the asset is anchored by the desirable property size and location.
Section 2: Frequently Asked Questions
1. Is the house unusually small for the area?
Yes, the living area is notably smaller than most homes on Montrose Street and in North River Heights. At 995 sqft, it ranks in the bottom 25% for size within the immediate neighbourhood, making it a more compact option.
2. How does the assessed value compare?
The $435k assessment is below the average for Montrose Street but is very close to the average for the wider North River Heights area. City-wide, it sits above average, highlighting the premium for location. This suggests you are paying primarily for the neighbourhood and lot.
3. What is the significance of the large lot?
The 5,997 sqft lot is a standout feature, ranking in the top 20% for size within North River Heights. This is a substantial parcel for the area, offering ample yard space, which is a rarity and a key asset.
4. When was it last sold and for how much?
Public records indicate it was sold in May 2016, with the price listed in the range of $250,000 to $300,000. Exact sale figures require a manual lookup from the provider.
5. What are the implications of the 1944 build year?
Built 82 years ago, the home is older than the city-wide average but typical for this historic neighbourhood. Buyers should budget for the maintenance and potential updates expected with a home of this age, while appreciating the character of an established streetscape.