Property Overview
This well-situated one-storey home at 627 Niagara Street in Winnipeg's Central River Heights presents a solid opportunity in a desirable neighbourhood. Built in 1953, it sits on a generous 5,387 sqft lot, which is notably larger than most on its street. The home features 1,451 sqft of living space, a renovated basement, and a detached garage. Its standout characteristic is its assessed value, which ranks in the top 5% for the neighbourhood, suggesting a history of improvements or favourable attributes not fully captured by basic metrics. The property last sold in 2017 for $430,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of location, lot size, and value proposition. The lot is significantly larger than the street average, offering ample outdoor space and potential in a mature, established area. The renovated basement adds functional living space, a key update for a home of this era. The detached garage provides valuable storage or workshop space.
This home would suit a few specific buyer types perfectly. First, it’s ideal for those seeking a move-in-ready foundation in River Heights without the premium price of a newer or fully custom-renovated home. Second, the large lot makes it a compelling option for buyers with long-term visions, whether for gardening, expansion, or simply enjoying more private outdoor space than is typical. The strong assessment ranking indicates a property that has been maintained well relative to its peers, appealing to value-conscious buyers who appreciate a home with underlying equity strength.
Frequently Asked Questions
1. Why is the assessed value so high compared to similar homes?
The assessment ranks in the elite tier for Central River Heights. This typically reflects significant updates (like the renovated basement), quality of construction, desirable lot features, or a combination of factors that add tangible value beyond basic size and age metrics.
2. How does the lot size compare practically?
At 5,387 sqft, the lot is over 500 sqft larger than the street average. This translates to more usable backyard space, greater distance from neighbours, and potentially more flexibility for landscaping, decks, or future additions than many properties on the block.
3. What does the "around average" sale price ranking indicate?
When it last sold, its price was competitive and typical for the market at that time—neither undervalued nor overpriced relative to its immediate area and city-wide comparables. This suggests a market-tested value.
4. Are the homes on this street similar?
The provided comparisons show a mix. Nearby properties on Niagara Street vary in living area and assessed value, indicating a street with diverse homes rather than uniform builds. This property’s larger lot and higher assessment help it stand out within that mix.
5. What is the significance of the home being a "one storey" with a renovated basement?
The single-level living is appealing for accessibility and layout simplicity. The renovated basement effectively doubles the functional living area, providing crucial space for family rooms, home offices, or guest areas that a main floor alone might not offer.