Property Overview: 545 Niagara Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, post-war two-storey home in Central River Heights, built in 1950. It sits on a standard city lot of approximately 4,500 sq ft and offers 1,256 sq ft of living space. A key feature is its renovated basement, adding functional space, and it includes a detached garage. The home’s appeal lies in its established neighbourhood setting and its position as a solid, middle-of-the-road property in its immediate area. For its street and the wider Central River Heights community, its lot size, living area, and year built are all around or slightly below the local averages, suggesting it fits comfortably within the fabric of this mature neighbourhood without standing out as exceptionally large or modern.
This property would suit a pragmatic buyer looking for a home in a desirable area without a premium price tag for above-average specs. It’s ideal for someone who values a renovated basement for extra living or utility space and appreciates the character and stability of River Heights. The data indicates it’s not a fixer-upper nor a luxury offering, but a straightforward, livable home in a prime location. A thoughtful perspective is that its "average" metrics relative to its sought-after neighbourhood could represent a value-conscious entry point, allowing investment to be directed toward personalization rather than overpaying for land or size.
Frequently Asked Questions
1. How does the lot size compare to others?
At 4,524 sq ft, the lot is very typical for Niagara Street itself (ranking in the top 40%) and is close to the average for Central River Heights. It provides a standard urban yard space.
2. Is the home older than others in the area?
Built in 1950, it is slightly newer than the average home on Niagara Street (where the average year built is 1941) but is a bit older than the average for the broader Central River Heights neighbourhood.
3. What does the assessed value indicate?
The assessed value of $41.3k is below the street average but aligns with the neighbourhood average. It’s important to note that assessed value for tax purposes is different from market value; the last recorded sale was in 2019 for $39.2k.
4. Who might this home not suit?
Buyers seeking a very large lot, a newer build, or a home with above-average square footage for the immediate area might find this property too standard. It’s geared toward those who prioritize location over standout specifications.
5. What is the significance of the renovated basement?
In a home with a living area that is average for the city, a renovated basement effectively expands the usable living space, adding significant functional value that may not be fully reflected in the main square footage figure.