Property Overview: 485 Niagara Street, Winnipeg
Key Characteristics & Appeal
This home at 485 Niagara Street in North River Heights is a well-situated, post-war property that represents a solid entry into a desirable neighbourhood. Built in 1948, its 1,363 sqft living space and 4,524 sqft lot are very typical for Niagara Street and the wider North River Heights area, offering a standard footprint without surprises. The appeal lies in its established location and straightforward value proposition. With an assessed value of $475,000, it sits around the average for its immediate area but ranks above average compared to the wider city, suggesting you are paying for the neighbourhood as much as the structure itself. It last sold in May 2024 for an estimated $450,000–$500,000.
This property would suit a practical buyer looking for a character home in a mature neighbourhood without the premium or extreme renovation demands of an older, heritage-style property. It’s a sensible choice for someone who values community stability over a brand-new build and is comfortable with a home that may require thoughtful updates to suit modern tastes. A less obvious perspective is that its "average" metrics within the neighbourhood could be a stability advantage, potentially offering more predictable property value trends and fewer extreme comparables than a standout lot.
Frequently Asked Questions
1. How does this home’s age compare to others nearby?
At 78 years old (built in 1948), this home is newer than many in North River Heights, ranking in the top 12% for year built in the area. This suggests it may have fewer of the foundational concerns associated with much earlier construction, while still offering classic character.
2. Is the assessed value in line with recent sale prices?
The $475,000 assessed value is consistent with its estimated sale price of $450,000–$500,000 in May 2024. This alignment indicates the assessment and market value are currently in sync.
3. How does the lot size compare?
The 4,524 sqft lot is slightly below the street and area average but is a standard city lot. It provides typical yard space for the neighbourhood but is not an unusually large or small parcel.
4. What does the "above average" city-wide ranking for value mean?
While the value is typical for North River Heights, it ranks in the top 24% city-wide. This highlights that you are investing in a neighbourhood where property values are generally higher than in many other parts of Winnipeg.
5. Where can I get verified historical sale data?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the full transaction history and exact figures via email from the provider, who will manually look up the data.