Property Overview
487 Campbell Street is a 828 sqft bungalow built in 1941, situated on a 4,799 sqft lot in Winnipeg's North River Heights neighbourhood. With an assessed value of $366k, it presents a specific value proposition shaped by its size, location, and vintage.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as a more affordable entry point into the desirable, established North River Heights area. The lot size is consistent with the local neighbourhood, offering standard outdoor space for the district. However, the living area is notably compact, ranking in the bottom 10% for size both locally and city-wide. This creates a clear dynamic: you are purchasing location and land, with a house that may require efficient use of space or future expansion.
The assessed value is below average for Campbell Street and North River Heights, but aligns closely with the Winnipeg city-wide average. This suggests the price reflects the smaller home size rather than the location's premium. It last sold between $250k-$300k in 2019, indicating significant equity growth since then.
This property would best suit a minimalist buyer, a first-time purchaser prioritizing location over size, or an investor looking for a hold in a stable neighbourhood. It’s less suited for those needing ample indoor space without plans to renovate or expand. A thoughtful perspective is that the smaller footprint can mean lower utility costs and less maintenance, while the typical lot size for the area retains good potential for outdoor living or a future addition.
Frequently Asked Questions
1. Is this a good value for North River Heights?
Based on assessed values, this home is priced below the neighbourhood average, primarily due to its smaller square footage. It offers a chance to secure a property in the area at a lower price point, with the trade-off being less interior space.
2. How does the home’s size compare to others?
At 828 sqft, the living area is significantly smaller than most comparable homes on Campbell Street (avg. ~1,299 sqft) and in North River Heights (avg. ~1,540 sqft). Efficient layout or potential expansion are key considerations.
3. What is the potential for future expansion?
The 4,799 sqft lot is standard for the street and area, providing the necessary space for an addition. Any expansion would need to comply with local zoning bylaws and could significantly increase the property's value.
4. What should I know about a home built in 1941?
While the building’s age is typical for the neighbourhood, a thorough inspection is essential. This can identify the condition of original components like wiring, plumbing, and the foundation, and help budget for any necessary updates or maintenance.
5. How can I get the exact past sale price?
The exact sold price is not publicly displayed. You can request the full transaction history and exact figures by emailing the site directly for a manual lookup, as detailed in the data notes section.