Property Overview: 475 Niagara Street, Winnipeg
Key Characteristics & Appeal
This home at 475 Niagara Street in North River Heights presents a solid, mid-century property built in 1948. With 1,248 sqft of living space on a 4,417 sqft lot, its size is comfortably average for the immediate street and neighborhood, offering a manageable footprint. The assessed value of $485,000 is notably above the Winnipeg city-wide average for comparable homes, suggesting it is positioned in a desirable area, but is consistent with values in North River Heights itself.
The primary appeal lies in its established location and relative value within a sought-after neighborhood. It suits buyers looking for a character home in a mature community without the premium often attached to newer or extensively renovated properties. A thoughtful perspective is that this home represents a "neighborhood play"—its value is intrinsically tied to the stability and prestige of North River Heights, making it a pragmatic choice for those prioritizing location over sheer size or modern build. It would particularly suit first-time buyers stepping into a established area, downsizers seeking a manageable lot, or investors attracted by the consistent demand in this part of the city.
Frequently Asked Questions
1. How does the home’s size compare to others nearby?
At 1,248 sqft, the living area is slightly below the average for both Niagara Street and North River Heights, but is close to the city-wide average. It indicates a cozier, more efficient layout rather than an expansive one.
2. Is the assessed value reasonable for the area?
The $485,000 assessment is very typical for North River Heights, ranking in the top third for the neighborhood. It is, however, above the city-wide average, reflecting the area's higher property values.
3. The home was built in 1948. What should I consider?
As a home from the late 1940s, prospective buyers should budget for updates to major aging components like plumbing, electrical, and the roof. A thorough inspection is essential to understand the condition and any needed investments.
4. How does the lot size impact potential?
The 4,417 sqft lot is slightly below average for North River Heights but offers standard outdoor space for the street. It provides room for a garden or deck but may have limitations for large additions or pools compared to deeper lots in the area.
5. What can past sale data tell us?
Records show it last sold between $300,000-$350,000 in late 2020. The significant increase to its current assessed value aligns with broader market trends, but for exact sale history and verified figures, you must request a manual lookup from the site.