Property Overview: 277 Lindsay Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot and established location. Built in 1949, it offers a compact 993 sqft living space, which is notably cozier than many area homes. The true standout is its expansive 6,294 sqft lot, placing it among the top 10% for land size in the desirable North River Heights neighborhood. With an assessed value of $455,000, it sits above average for the city and its immediate street, suggesting a premium for its location and land.
The appeal lies in a rare combination: a manageable, older home on a large, private lot in a prime area. It suits a specific buyer—perhaps a downsizer seeking minimal indoor upkeep but prized outdoor space, or a visionary buyer who sees the land itself as the primary asset, with the existing structure offering potential for expansion or future redevelopment. It’s less suited for those seeking immediate move-in condition or ample modern square footage.
Section 2: Frequently Asked Questions
1. Is the home’s smaller living area a concern?
Yes, for some. At 993 sqft, the living space is below average for both the neighborhood and the city. This indicates a home where efficient use of space is key, and it may not accommodate larger families or those desiring extensive room layouts without renovation.
2. Why is the assessed value relatively high given the home’s age and size?
The assessed value reflects two strong factors: the premium lot size in a sought-after neighborhood and the overall property values on Lindsay Street. The data shows you are paying more for the land and location than for the physical structure.
3. How does the lot size compare, and what does it offer?
The lot is a significant asset. At over 6,000 sqft, it is well above average for the street and area. This allows for substantial backyard privacy, gardening potential, and outdoor living space that is uncommon in central neighborhoods.
4. What can the past sale price tell me?
The home sold between $400,000-$450,000 in mid-2023. This recent sale provides a concrete benchmark, showing the assessed value is in line with the market transaction. It suggests stable or appreciating value in this specific location.
5. Who are the likely neighbors, and what are nearby homes like?
The listing shows nearby homes on Lindsay Street, built from 1946 onward, with a mix of sizes and values. The presence of a newly built home (2020) just down the street at 252 Lindsay indicates an area where older properties are being updated or replaced, hinting at the long-term potential of the lot.