Property Overview: 241 Campbell Street, North River Heights
Key Characteristics & Appeal
This home at 241 Campbell Street is a classic, compact bungalow built in 1927, situated on a 4,203 sqft lot in the established North River Heights neighborhood. Its primary appeal lies in being an accessible entry point into a desirable area. With a living area of 948 sqft, it is notably smaller than most homes on its street and in the wider neighborhood, positioning it as a more affordable option. The assessed value of $302k is significantly below the local area averages but aligns more closely with the Winnipeg city-wide average, highlighting its value-for-location proposition.
This property would best suit first-time buyers, downsizers, or practical investors seeking a foothold in a prime neighborhood without a premium price tag. Its smaller scale means lower maintenance and utility costs, a thoughtful trade-off for the location. The lot size, while below area averages, still offers good outdoor space for a home of this size. A less obvious perspective is that its "below-average" metrics for the immediate area could represent a long-term opportunity; as larger, older homes on the street are redeveloped, this well-sized lot with a modest structure holds potential for future updates or expansion, subject to regulations.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes on the street?
The assessed value reflects the home's smaller size (948 sqft), older age, and likely more modest finishes compared to larger, renovated, or newer homes on Campbell Street. It is primarily a function of the physical characteristics of the property itself.
2. What does the sold price range (CA$250k–300k) tell me?
This indicates the home sold for between $250,000 and $300,000 in February 2024. This range is consistent with its assessed value being below area averages, confirming it as a competitively priced option for the neighborhood.
3. Is the smaller living area a major drawback?
It depends on your needs. For a single person, couple, or downsizer, 948 sqft can be efficient and manageable. It is a compromise that makes the North River Heights location attainable, but may not suit those requiring more space for a growing family or home offices.
4. How does the year built (1927) affect the property?
A home from 1927 comes with character and likely solid construction, but prospective buyers should budget for potential updates to older mechanical systems (like plumbing or wiring), windows, and insulation. A thorough inspection is essential.
5. Are the "below average" rankings a bad sign?
Not necessarily. These rankings compare the home against all others in the defined area. For a buyer, they clearly explain the price point. You are purchasing location and lot potential, with a home that is functionally sound but not the largest or most modern on the block.