Property Overview: 266 Oak Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is a classic 1926 residence in the established North River Heights neighborhood. With 1,436 sqft of living space on a 4,824 sqft lot, its size is comfortably average for the local area but stands above the typical Winnipeg home. Its primary appeal lies in its strong value proposition within a desirable neighborhood. The assessed value of $562k is notably above average for both the wider city and North River Heights itself, suggesting a perception of quality and location that outpaces many peers. This creates an interesting dynamic: you are acquiring a century-old character home that holds a premium position in the market.
The property suits buyers looking for a solid, no-surprises investment in a prime neighborhood without the footprint of a massive estate. It’s ideal for someone who appreciates the character of an older home and values a lot size that allows for garden space without excessive maintenance. A thoughtful perspective is that while the home is older than most on its street, its assessed value has not suffered for it; this can indicate enduring quality, desirable architectural details, or a location within the neighborhood that holds particular appeal. The recent sale in 2023 within the $500k-$550k range provides a concrete, modern benchmark for its market value.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While not a guarantee, it is a strong indicator. The assessed value of $562k is significantly above the citywide average, and the home sold for between $500k and $550k in late 2023. This consistency suggests the property is valued by the market for its location and attributes.
2. How does the age of the home (built in 1926) factor into its value and appeal?
The home is older than most in its immediate area and the city. This typically implies potential for character and mature landscaping, but buyers should budget for updates to older mechanical systems, windows, or insulation. The fact that its value remains high indicates these factors are likely already reflected in its price.
3. The living area is noted as "around average" for the neighborhood. Does that mean it's small?
Not at all. At 1,436 sqft, it is very close to the North River Heights average (1,540 sqft) and is actually larger than the average Winnipeg home. It offers a comfortable size that is efficient to maintain and heat, which can be a practical advantage.
4. What does the lot size mean for potential expansion or outdoor space?
At just under 5,000 sqft, the lot is a good size for the area. It provides ample private outdoor space for gardening and recreation. Whether it allows for an addition or major expansion would depend on specific zoning bylaws and the current footprint of the house, which would require further investigation.
5. How can I find out the exact price it sold for in 2023?
The site provides sold price ranges for non-registered users. To obtain the exact sale figure, you must request it directly via email from the service, as they manually look up and provide this data due to industry regulations that prevent its direct publication.