Property Overview: 228 Oak Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home is a classic 1925-built character property situated on a standard-sized lot in the established North River Heights neighborhood. With 1,392 sqft of living space and an assessed value of $453k, it presents a solid, middle-of-the-road option within its immediate area. Its appeal lies in its relative value and location. While its size and lot are around the neighborhood average, its city-wide assessed value ranks in the top 28%, suggesting you get more house for your dollar here compared to many areas across Winnipeg. The home last sold in September 2020 for between $400k-$450k.
This property would suit a practical buyer who values character neighborhoods and is comfortable with a century-old home's potential upkeep. It’s ideal for someone seeking a fair-priced entry into a desirable area without the premium of a larger or fully renovated home. A thoughtful perspective is that its "averageness" on the street could be a stability advantage, offering a realistic benchmark for future value without the volatility of being the most or least expensive house on the block.
Frequently Asked Questions
1. How does this home’s value compare to others?
Its assessed value is around average for North River Heights and Oak Street, but ranks above average city-wide. This indicates it may offer more space or location benefits for the price compared to many other Winnipeg homes.
2. What should I consider with a 101-year-old home?
While offering classic charm, a home from 1925 will likely require careful attention to foundational systems, wiring, plumbing, and insulation. A thorough inspection is essential to understand the state of updates and any pending major maintenance.
3. Is the lot size typical for the area?
At 4,824 sqft, the lot is slightly below the average for Oak Street but fairly standard for the North River Heights neighborhood. It provides adequate outdoor space without being overly burdensome to maintain.
4. How reliable is the sold price data shown?
The sold price range is based on publicly available data, not the MLS. For fully verified and exact historical transaction figures, you must request a manual lookup via the provided email service.
5. What does the "rank" and "top X%" information mean?
These metrics show how this property compares to groups of similar homes. For example, its city-wide assessed value is in the "Top 28%," meaning it is valued higher than 72% of comparable homes across Winnipeg, highlighting its relative value at a city level.