Property Overview
This two-storey home on Montrose Street in Central River Heights presents a practical opportunity in a well-regarded neighbourhood. Built in 1949, its key characteristics include a renovated basement, a detached garage, and 1,250 square feet of living space on a 5,038 sqft lot.
The appeal lies in its position as a relatively modestly-sized and valued home within a desirable area, potentially offering a more accessible entry point into the neighbourhood. The renovated basement adds functional living space. It would suit first-time buyers or downsizers seeking the convenience and community of River Heights without the premium often attached to larger, more updated homes in the area. A thoughtful perspective is that while the home's metrics (like lot size and living area) are below average for Montrose Street itself, they align more closely with the broader neighbourhood and city averages, suggesting it fits a comfortable, middle-ground niche rather than standing out as exceptionally large or small.
Frequently Asked Questions
Is the lot size a disadvantage?
While the land area is below the average for Montrose Street, it is a standard city lot size overall. It offers a manageable yard for maintenance while still providing private outdoor space.
What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent, as it could range from updated finishes to the addition of legal living space.
How should I interpret the assessed value versus the recent sale price?
The property last sold in November 2022 for $41,300k, slightly above its current assessed value of $39.80k. This suggests the assessment is relatively current, but the market value will be determined by current conditions, the home's state, and buyer demand.
Is the living space sufficient for a family?
At 1,250 sqft, the living area is typical for many Winnipeg homes of this era. It may be cozy for a larger family but is often well-suited for small families, couples, or individuals, especially with the additional finished basement space.
How does this home rank for investment or value retention?
Its position in Central River Heights is a strong fundamental. The fact that its assessed value is around the neighbourhood average indicates it is not an outlier, which can be stabilizing. Its appeal will be tied to the enduring demand for the location and the condition of the home itself.