463 Niagara Street

Property Overview: 463 Niagara Street, Winnipeg

Key Characteristics & Appeal

This home presents a compelling value proposition centered on its generous lot size. Built in 1948, the 1,194 sqft house sits on a notably large 6,463 sqft parcel of land, which ranks in the top 10% for size within the desirable North River Heights neighborhood. This creates significant potential for expansion, gardening, or outdoor living that is harder to find on newer, more subdivided lots.

While the living space is modest compared to immediate neighbors, its assessed value of $457k is above the Winnipeg citywide average, suggesting the land and location contribute substantial worth. The property suits practical buyers who prioritize land over sheer interior square footage. It’s ideal for someone looking for a solid post-war home in an established area with room to grow, whether that means a future addition, a workshop, or simply enjoying a larger, private yard. Its citywide value ranking also indicates a stable, equity-rich asset compared to many properties across Winnipeg.

Frequently Asked Questions

1. Is the house smaller than others on the street?
Yes. The living area is below the street and neighborhood average. The appeal here is balanced toward the larger lot, offering different value than a home with maximized interior space.

2. What does the assessed value tell us?
At $457k, it’s near the average for North River Heights but ranks above average citywide. This indicates you are paying for a premium location, with the property holding more value than the typical Winnipeg home.

3. How does the lot size compare?
This is the standout feature. The lot is significantly larger than most on Niagara Street and in North River Heights, ranking in the top 9% for the area.

4. When was it last sold, and for how much?
Public records show it sold in October 2016 for between $300,000 and $350,000. Exact sale prices require a manual lookup from verified sources.

5. What are the possible trade-offs?
You are trading interior square footage for land. Updates or renovations typical of a 78-year-old home may be needed, but the lot offers a unique advantage that cannot be easily replicated in this neighborhood.