Property Overview: 248 Elm Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, established value, and character. Its primary appeal lies in its generous 2,236 sqft of living area, which places it well above average for the neighbourhood and city. This is complemented by a strong assessed value of $650,000, ranking it in the top 5% citywide, indicating a premium property in a desirable location.
The home is one of the older on the street, built in 1919. This suggests classic architectural charm but also implies that its condition and any updates will be a primary focus for buyers. The lot size is smaller than most on Elm Street, which may mean a more manageable yard but less outdoor space relative to immediate neighbours.
This property would ideally suit buyers looking for a spacious, character home in a mature, established neighbourhood like North River Heights. It appeals to those who value above-average interior space over a large lot and are prepared to appreciate or maintain a century-old home. The strong value rankings make it a solid consideration for someone viewing real estate as a long-term investment in a prime area.
Frequently Asked Questions
1. What does the "Elite" top 5% citywide ranking for assessed value actually mean?
It means this home's official municipal assessed value is higher than approximately 95% of all residential properties in Winnipeg. This typically reflects a combination of its location, size, and market position, but it is not a direct market appraisal.
2. The house is much older than others on the street. What should I consider?
While it offers historic charm, key considerations will be the condition and age of major systems (roof, plumbing, electrical, foundation) and the extent of any modernizations. An older home on a street of newer ones can be unique, but a thorough inspection is essential.
3. The lot is smaller than most nearby. How significant is this?
On Elm Street, the lot is notably smaller. This likely means a more compact yard, which could be a positive for low-maintenance living but a limitation for those wanting extensive outdoor space, gardens, or large additions. It's a trade-off for the larger interior.
4. Can I see the exact historical sale price instead of the range?
The site provides sold price ranges for transparency. To obtain the exact sale price from the 2019 transaction, you must request it directly via email, as per the data notes provided.
5. How reliable are these comparisons and rankings?
The rankings are based on publicly available municipal assessment and property data, offering a consistent benchmark for comparison. They are useful for understanding how this property measures up statistically but should be one part of a broader evaluation that includes a physical viewing and professional advice.