Property Overview: 199 Elm Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is defined by its impressive scale and premium valuation within a well-established neighbourhood. Built in 1913, it is a classic, older character home that offers significantly more living space than most. With 2,252 sqft, it ranks in the top 10-13% for size both locally and citywide. This substantial interior space is paired with a roughly average lot size of 4,824 sqft for the area.
The property’s primary appeal lies in its elite standing in terms of assessed value, which is placed in the top 3-5% across all comparison levels. This indicates it is considered a high-value asset, likely due to a combination of its generous square footage, desirable North River Heights location, and the character of a century-old home. Recent sale history suggests strong market momentum.
It would best suit buyers seeking a spacious character home in a prime central neighbourhood, who appreciate the charm of a historic property and are prepared for the maintenance that comes with it. It’s a solid choice for those valuing space over a newer build, and for investors or homeowners looking at long-term value in a proven market.
Frequently Asked Questions
1. How does the age of the home (1913) affect its value and appeal?
While its age places it in the older tier of homes statistically, this is typical for the character of North River Heights. The age contributes to its charm and is likely factored into its high assessment. Buyers should budget for potential updates and maintenance consistent with a century-old structure.
2. The assessed value seems high compared to area averages. What does this mean?
An assessment in the elite tier (top 5%) confirms this is not an average property for the area. It reflects the city’s valuation of the home as a premium asset, likely due to its above-average size, lot, and location. This often correlates with higher property taxes and strong resale value.
3. Is the lot size a drawback?
The land area is around the neighbourhood average. While not an exceptionally large lot, it is proportionate for the area and supports the home’s substantial footprint. The value here is weighted more toward the living space and location than toward expansive outdoor grounds.
4. What can recent sale prices tell us?
The data shows a significant increase between its 2020 and 2021 sales, moving from an average price tier to a top-tier sale. This indicates a rapid appreciation in market value over that period, underscoring the property’s desirability and the neighbourhood’s strong market.
5. How reliable is this sold price data?
The provided sold prices are based on public records, not the MLS. For fully verified and exact transaction figures, you must request a manual lookup from the site via email, as industry rules prevent the display of official MLS sold data here.