Property Overview: 272 Oak Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 1,700 sqft home, built in 1926, sits on a 4,824 sqft lot in the established North River Heights neighborhood. Its appeal lies in its balanced position within the market. The living space is above average for Winnipeg overall, offering solid room for a family, while the assessed value of $476k is modest compared to many homes on its own street. This creates an opportunity to own a character home in a desirable area at a value that is competitive citywide.
The home’s age (100 years) is its most distinctive characteristic, placing it among the older homes in the city. This will suit a buyer who appreciates classic architecture and is prepared for the maintenance or updates a century-old home may require. Conversely, it may not appeal to those seeking a modern, turn-key build. The lot size is typical for the area, offering decent outdoor space without being oversized.
This property would best suit a practical buyer looking for character in a prime location. It’s ideal for someone who sees value in the neighborhood first and is willing to invest in a home that may need gradual modernization. It represents a middle ground—not the largest or newest on the block, but a chance to enter a well-regarded community with a home that has strong fundamentals and room to add personal value.
Frequently Asked Questions
1. How does this home’s value compare to its neighbors?
The home’s assessed value is below the average for Oak Street ($548.4k) but aligns closely with the average for North River Heights ($479.3k). This suggests it may offer a more accessible entry point to this specific street while being priced typically for the wider area.
2. What should I consider with a home built in 1926?
While offering classic charm, a home of this age likely has older mechanical systems (like plumbing, wiring, and heating) and may require updates to windows, insulation, or the roof. A thorough inspection is essential to understand the condition and plan for any necessary investments.
3. The data shows it sold in September 2022. What does that mean?
The sold price from 2022 provides a historical benchmark, but it does not reflect the current market value or listing price. Market conditions can change significantly. You can request the exact historical sold price from the site via email for detailed research.
4. Is the living space sufficient for a growing family?
At 1,700 sqft, the home is larger than the Winnipeg city average (1,342 sqft) and provides ample space for a family. It is slightly smaller than the average home on Oak Street itself, so it’s worthwhile to consider the specific layout and room sizes during a viewing.
5. How does the lot size compare, and what are the implications?
The lot is just under 5,000 sqft, which is standard for North River Heights. It is smaller than the average city lot but provides a manageable yard space for gardening or recreation without excessive maintenance.