Property Overview: 348 Olive Street, Silver Heights, Winnipeg
Key Characteristics & Buyer Appeal
This 1956 bungalow at 348 Olive Street presents a practical entry point into Winnipeg's established Silver Heights neighborhood. With 936 square feet of living space, the home is notably compact, ranking below average in size for its street, area, and the wider city. This characteristic defines its core appeal: it is a more affordable, lower-maintenance option in a desirable area where larger homes command higher prices.
Its assessed value of $282,000 sits comfortably below the neighborhood and city averages, indicating a potentially accessible price point. The lot size of 5,856 sqft is fairly standard for the area. The home's age is actually above average for Silver Heights, suggesting it is among the more mature properties on a street of similar-era homes.
This property would best suit first-time homebuyers, downsizers, or investors seeking a straightforward, lower-cost holding in a stable neighborhood. Its value lies less in size or modern features and more in location and lot potential. A thoughtful perspective for a buyer is to see the below-average square footage not just as a limitation, but as a canvas for a efficient, modern renovation or an addition, leveraging the solid foundation of a larger, well-located lot.
Frequently Asked Questions
1. Is the assessed value the same as the likely selling price?
No. The assessed value ($282k) is for municipal tax purposes. The actual market price can be higher or lower based on condition, updates, and market demand. It does, however, provide a benchmark showing this home is valued below area averages.
2. How does the living area compare to nearby homes?
At 936 sqft, the living space is smaller than most comparable homes on Olive Street and in the Silver Heights area. This is a key factor in its lower assessed value.
3. Can I get the exact sale history for this property?
The public data does not show a detailed transaction history. The listing service advises contacting them directly via email to request a manual lookup for the most accurate sales information.
4. What are the implications of the home being built in 1956?
Being built in 1956 means the home is older than many on its street and in Silver Heights. This typically suggests potential for original features but also means buyers should budget for updates to major aging components like plumbing, electrical, or the roof.
5. How does the lot size compare, and what does that mean?
The lot is slightly smaller than the street average but around average for the city. It provides standard outdoor space for a home of this era—sufficient for a yard and garden, but not an unusually large parcel.