Property Overview: 586 Niagara Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on a generous 5,004 sqft lot in Central River Heights presents a straightforward opportunity. Its key feature is the renovated basement, adding valuable finished space to the 1,114 sqft main living area. The property includes a detached garage and was built in 1951.
The appeal here is grounded in its context. The lot size is notably above average for Niagara Street itself, offering more outdoor space than many immediate neighbours. While the living area is modest, the renovated basement helps maximize usable square footage. The assessed value positions this property as a more accessible entry point into the desirable Central River Heights neighbourhood, suggesting potential for buyers who prioritize location over a large or modernized main floor. It would suit a first-time buyer, an investor, or someone looking to downsize into a mature, established area without a premium price tag. The value proposition leans heavily on the lot size, the basement renovation, and the neighbourhood's enduring appeal.
Frequently Asked Questions
1. How does the lot size compare?
The 5,004 sqft lot is a standout feature, ranking in the top 27% for size on Niagara Street. It provides more yard space than is typical for this specific street.
2. Is the living space smaller than average?
Yes, the main living area of 1,114 sqft is below the average for Niagara Street. However, the renovated basement significantly adds to the total usable space, and the home's footprint is around the city-wide average.
3. What does the assessed value indicate?
The assessed value is below the average for Niagara Street, which often reflects the home's more modest main living area and older construction date (1951). It can indicate a potentially lower property tax burden and a price point that may be below others in the immediate area.
4. How does the year built affect the home?
Built in 1951, the home is newer than many on its street but older than the city-wide average. Buyers should anticipate the maintenance and potential update needs common to homes of this era, balanced by the character and established landscaping of the neighbourhood.
5. What are nearby properties like?
The neighbouring homes on Niagara Street are of similar vintage, with varying lot and living space sizes. For example, a nearby reference property at 589 Niagara Street is slightly newer and has a significantly larger main living area, which helps contextualize the trade-offs present at 586 Niagara.