492 Campbell Street

Property Overview: 492 Campbell Street, Winnipeg

Key Characteristics & Appeal

This home presents a classic North River Heights bungalow, built in 1941, on a standard 4,800 sqft lot. Its key characteristic is a compact, efficient living space of 968 sqft, which is notably smaller than most area homes. This creates a distinct value proposition: the assessed value of $435k is firmly in the mid-range for the city and the immediate street, suggesting you are paying primarily for the desirable location and lot, rather than for extensive square footage.

The appeal lies in its efficiency and opportunity. It suits a specific buyer: perhaps a first-time purchaser seeking an entry point into a well-established neighborhood, a downsizer looking to maintain a ground-level home with a manageable yard, or an investor attracted by the lot value and rental demand in the area. It’s a practical choice for those who prioritize location over size and see potential in a home that is simpler and less expensive to maintain, heat, and update than a larger property. A thoughtful perspective is that its smaller size and average valuation for the street could offer relative insulation from market swings compared to more premium, maxed-out properties in the area.

Frequently Asked Questions

1. Is the living area too small?
At 968 sqft, the home is significantly smaller than the North River Heights average. It will suit those comfortable with compact, efficient living but may feel cramped for those needing multiple dedicated rooms or extensive storage.

2. How does the assessed value compare?
The $435k assessment is very close to the average for Campbell Street itself and is above the Winnipeg citywide average. This indicates the value is strongly tied to the lot and location within a sought-after neighborhood.

3. What is the typical maintenance for a home of this age?
Built in 1941, this home is older than most in Winnipeg. Prospective buyers should budget for and anticipate updates to major aging components like plumbing, electrical, roofing, and windows, common for houses of this vintage.

4. What can the sold price history tell me?
The home sold in 2020 and again in 2022, both times within the $350k-$400k range. This recent turnover and price band provide a concrete benchmark for recent market value, though the current assessed value is higher.

5. How can I get the exact past sold prices?
The website does not display exact MLS sold figures due to industry rules. You must request the exact sold price history via email from the site operators, who state they will provide it manually without using your email for marketing.