Property Overview: 524 Ash Street, Winnipeg
Key Characteristics & Appeal
This 1945-built home in North River Heights presents a distinct profile defined by its compact size and established neighbourhood setting. At 770 square feet of living space on a 3,980 sqft lot, it is notably smaller than most homes on its street and in the wider area. This creates a clear value proposition: the assessed value of $363k is significantly below the local averages for Ash Street and North River Heights, yet aligns closely with the city-wide average. This positions the property as a more accessible entry point into a desirable, mature neighbourhood known for its character and amenities.
The appeal lies in this balance of location and price. It suits first-time buyers, downsizers, or investors seeking a lower-cost foothold in a prime area without the footprint or maintenance of a larger property. The home's age (older than most in the city but relatively average for its street) suggests classic construction but also implies a need for due diligence regarding updates and systems. A thoughtful perspective is that its below-average metrics on size and value within its immediate context could represent an opportunity for the right buyer—one prioritizing location over square footage and seeing potential in a manageable, classic home.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes on Ash Street?
The assessed value reflects the home's significantly smaller living area and lot size compared to its neighbours. On a street where average homes are over 1,600 sqft, this 770 sqft property is priced accordingly, offering a cost-effective way to gain an address in the area.
2. What does the sale history indicate about the property's value?
The home sold twice in recent years (2021 and 2023), both times within the $300k-$350k price band. This suggests a stable market value for a property of this specific size and type in the neighbourhood.
3. Who would this property be best suited for?
It is ideally suited for first-time buyers entering the North River Heights market, empty-nesters looking to downsize without leaving the area, or investors considering a long-term rental in a high-demand neighbourhood.
4. Are the sold prices shown the exact figures?
No. The public data shows price ranges. To obtain the exact, verified sold prices and full transaction history, you must request a manual lookup via email from the service, as this information is not sourced from the MLS.
5. How does the lot size impact potential for expansion or renovation?
At 3,980 sqft, the lot is smaller than most in the area. While this limits extensive additions, it reduces yard maintenance. Any significant expansion would require careful planning within the lot's constraints and adherence to local zoning bylaws.