Property Overview: 262 Austin Street N, North Point Douglas, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous physical space relative to its very low municipal assessment. Built in 1934, the 1,642 sqft living area is notably larger than many homes in the immediate area and across Winnipeg. This is complemented by an above-average lot size of over 5,150 sqft for the neighbourhood, offering rare potential for expansion, gardening, or outdoor space.
The primary appeal lies in its significant upside potential. With an assessed value of $70k—ranking it in the bottom 3% of the city—it represents one of the lowest entry points for a home of this size. This creates a substantial gap between its official valuation and its physical footprint, which may attract buyers looking for a foundational project. It suits hands-on investors, renovators, or buyers with a long-term vision who are comfortable in a transitioning neighbourhood like North Point Douglas. The data suggests it’s not a move-in-ready premium property, but a canvas for adding value through updates and improvements.
A less obvious perspective is its relative modernity for the street; built in 1934, it is newer than most immediate neighbours, potentially indicating better underlying structure or previous updates not reflected in the assessment. Its last known sale was between $150k-$200k in early 2018, providing a more recent market price context far above its current assessed value.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on mass appraisal models and specific valuation dates, not current market prices. A very low assessment can be due to the home’s condition, specific location factors within the neighbourhood, or a lack of recent permits for updates. It often indicates a property requiring modernization.
2. What does the sold price history tell us?
The home sold for an estimated $150,000-$200,000 in January 2018. This historical price is significantly higher than the current $70k assessment, highlighting that the market has previously valued it much higher. It’s a crucial data point for understanding its potential market value versus its tax valuation.
3. Is the large lot size a benefit?
Yes. At 5,158 sqft, the lot is larger than approximately 88% of properties in North Point Douglas. This provides more privacy, outdoor space, and future potential (like an addition, garage, or garden) than is typical for the area, which is often comprised of narrower lots.
4. How does this home compare to others on the street?
It has more living space than about two-thirds of homes on Austin Street N and sits on a larger-than-average lot. However, its assessed value is the second-lowest on the street (ranked 59 out of 60), suggesting it is an outlier in terms of valuation, not physical attributes.
5. How can I get the exact past sale price?
The exact sale price is not publicly displayed due to data source rules. You can request the fully verified transaction history by emailing the site directly. They will manually look up and provide the exact figures at no cost.