Property Overview: 196 Niagara Street, Winnipeg
Key Characteristics & Appeal
This home at 196 Niagara Street in North River Heights is defined by its substantial size and premium valuation within a well-established neighbourhood. Built in 1927, it offers 1,816 sqft of living space, which is notably above average for its street, area, and the city overall. The property sits on a 4,355 sqft lot, typical for the local streetscape.
Its primary appeal lies in its clear standing as a high-value asset. With an assessed value of $661,000, it ranks in the top 6-8% of homes in North River Heights and the top 5% citywide, indicating a premium property relative to the market. This is further supported by its most recent sale in late 2024 within the $700k-$750k range, a significant increase from its sale earlier that same year, suggesting strong market momentum or substantial improvement.
This home would suit buyers looking for a character home in a prime central neighbourhood who also value clear, data-backed equity. It’s ideal for someone who sees a higher assessed value not just as a tax implication, but as a marker of established investment in a desirable location. It may also appeal to those interested in a property with recent, rapid appreciation, understanding that this brings a higher entry point but potentially a solidified market position.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value of $661,000 places this home in the elite tier citywide (top 5%). This typically reflects a combination of its larger-than-average living area, the desirability of the specific location on Niagara Street, and likely significant updates or attributes not captured in basic square footage data.
2. The home sold twice in 2024. What does that indicate?
The sale price increased from the $350k-$400k range in early 2024 to $700k-$750k by September 2024. This could indicate a substantial renovation or flip occurred between sales, or a rapid shift in market conditions. It underscores the importance of verifying the exact sale history and understanding what changed.
3. Is the lot size a disadvantage?
At 4,355 sqft, the lot is slightly below average for North River Heights but is consistent with the typical lot on Niagara Street. For this neighbourhood, it provides a balanced urban yard. Buyers seeking extensive outdoor space might compare it to larger suburban lots, but here it aligns with the central, established community character.
4. How does the age of the home (1927) factor in?
The age is typical for the area. It means the home likely has classic architectural character but warrants thorough inspections for the condition of original systems like plumbing, wiring, and the foundation. Its value lies in its enduring location and the updates it has presumably received over time.
5. Where can I get the exact sale prices and full history?
The displayed sold price ranges are based on public data. To obtain the exact sale figures and a verified transaction history, you must request a manual lookup via email from the site, as they do not have access to or display proprietary MLS sales records.