Property Overview: 177 Oak Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home presents a compelling blend of space, land, and value within the established North River Heights neighborhood. Its primary appeal lies in its generous proportions: at nearly 2,000 square feet, the living area is notably larger than most homes in Winnipeg, and its lot size of over 7,200 square feet is exceptional for the area, ranking in the top 2%. This creates significant potential for both indoor living and outdoor enjoyment, such as gardening, expansion, or adding recreational space.
Built in 1914, the property is one of the older homes on the street, which suggests classic character but also implies a need for diligent maintenance and potential updates. Interestingly, its assessed value of $473k is around the average for the immediate street and neighborhood, yet sits above the city-wide average. This positioning could indicate a value opportunity, where you acquire a larger-than-average home and lot without a proportionally higher price tag, especially when compared to its last known sale between $400k-$450k in 2017.
This property would best suit a buyer who prioritizes space and land over a move-in-ready, modern build. It’s ideal for someone with a vision—whether that’s restoring a character home, utilizing the large lot, or appreciating the stability of a mature neighborhood. It appeals to those who see the older vintage as a source of charm and are prepared for the stewardship it requires.
Frequently Asked Questions
1. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is in the top 2% of all homes in the North River Heights area, making it a rare find for its generous outdoor space in this neighborhood.
2. The home is older than most. What should I consider?
While it offers classic charm, a 1914-built home will likely require careful attention to foundational, electrical, and plumbing systems. A thorough inspection is essential, and budgeting for ongoing maintenance or thoughtful updates should be part of your planning.
3. The assessed value seems average for the street but the lot and house are larger. Why?
Municipal assessments for tax purposes don't always directly correlate with market value or specific features. This discrepancy can sometimes represent a value opportunity, where the market may recognize the premium of the large lot and living space more than the assessment does.
4. How reliable is the sold price data shown?
The listed sale from 2017 is based on publicly available data, not the MLS. For fully verified and exact historical transaction figures, you must request a manual lookup from the site via email.
5. What is the immediate neighborhood like based on this data?
The data shows Oak Street and North River Heights consist of homes with a wide range of ages, but generally with smaller lots and less living space than this subject property. This home stands out on its street and in the area for its land size, offering more privacy and space than its closest neighbors.