Property Overview
This well-situated one-storey home on a generous lot in Central River Heights presents a practical and appealing opportunity. Its key appeal lies in the balance of a renovated basement, a detached garage, and a notably large, private lot that is above average for the desirable neighbourhood. Built in 1953, the house itself is newer than many on the street, though its living space is modest. This combination suits buyers looking for a lower-maintenance, single-level layout with clear potential for expansion or outdoor enjoyment. It’s ideal for a small family, downsizers, or an investor seeking a property in a stable area where the land itself holds significant value. A thoughtful perspective is that the above-average lot size in a mature neighbourhood like River Heights offers a rare chance for future gardens, additions, or simply more privacy than nearby properties—a long-term asset that isn't immediately reflected in the home's current footprint.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The details confirm a renovated basement but do not specify if it is a legal, rentable suite. This is a crucial point for investors or those seeking rental income, and verification with the city and a professional inspection would be necessary.
2. How does the sale price compare to the assessed value?
The home sold for $460,000 in May 2023, which is significantly higher than its assessed value of $46,500. This is normal, as assessed value for tax purposes rarely reflects market value. The sale price was above average for Winnipeg at the time, indicating strong demand for the location and property type.
3. What is the condition of the detached garage?
The listing notes a detached garage but does not describe its size, condition, or whether it is insulated/heated. Given the age of the property, the garage may require evaluation.
4. How does the lot size compare to others nearby?
The 4,703 sqft lot ranks in the top 34% on Niagara Street itself, meaning it's larger than most direct neighbours. In the broader Central River Heights area, it ranks in the top 7%, making it a particularly sizable parcel for this neighbourhood.
5. What might the "modest living area" mean for a buyer?
With 1,220 sqft of living space, the home is cozier than many on its street. This suggests efficient use of space is key. However, the renovated basement adds functional area, and the large lot presents a clear opportunity for a future addition, subject to zoning and permits.