Property Overview: 546 Montrose Street, Central River Heights
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1950, sits on a generous, approximately 5,758 sqft lot in the established Central River Heights neighborhood. Its key features include a renovated basement and a detached garage. The home’s primary appeal lies in its balance of space and location. With 1,454 sqft of living area, it offers above-average interior space for the neighborhood, providing more room than many nearby homes. The lot size is also notably larger than the citywide average, offering valuable outdoor space in a central area.
The property’s assessed value is notably below average for both the street and the neighborhood, which can present an opportunity. This profile suggests a home that may benefit from modernization, appealing to buyers looking for a character home in a prime location with the vision to update it. It would suit a practical buyer—perhaps a young family, an investor, or a downsizer—who values lot size and interior square footage over a move-in-ready finish. The renovated basement adds functional living space, making it a practical choice for those needing flexibility.
Frequently Asked Questions
1. Why is the assessed value significantly lower than neighboring homes?
The assessed value is a municipal valuation for tax purposes and is often based on historical data and formulas. A value below area averages can indicate factors like older interior finishes, deferred maintenance, or simply a longer period since a major renovation, not necessarily the property's market potential.
2. How does the living area compare to nearby homes?
This home has above-average living space for Central River Heights. At 1,454 sqft, it is larger than many homes in the immediate neighborhood, which average about 1,346 sqft, offering more interior room than is typical for the area.
3. What does the "one-and-a-half storey" building type typically mean?
This style often features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms or attic spaces. It’s a classic design for Winnipeg homes of this era, offering character but sometimes with less full-height ceiling space on the upper level.
4. Is the lot size a significant feature?
Yes. The lot is over 5,700 sqft, which is larger than both the neighborhood and citywide averages. This provides ample backyard space for gardening, recreation, or future additions, a valuable asset in a central, mature neighborhood.
5. The home sold recently in late 2023. What should I consider?
The recent sale indicates a active market for the property. A buyer will want to understand what changes, if any, have been made since that sale, and should investigate the reasons for the quick turnaround to ensure there are no underlying issues.