Property Overview: 345 Niagara Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 345 Niagara Street in North River Heights is a well-established property that presents a balanced, practical offering. Built in 1930, it features 1,536 sqft of living space on a 4,307 sqft lot, with a current assessed value of $443,000.
Its primary appeal lies in its solid positional value. The home's living space is above average for Winnipeg overall, offering more room than many city-wide properties, while its assessed value also sits above the city average. This suggests you get a relatively good amount of house for your tax assessment compared to the broader market. In its immediate neighbourhood and street, however, the property is consistently "around average" in size, value, and age, indicating it fits seamlessly into this mature, stable community.
The lot size is smaller than most on its street and in North River Heights, which could mean lower maintenance but less private outdoor space. A thoughtful perspective is that this above-average city-wide value, paired with a neighbourhood-average profile, may offer a strategic entry point into a desirable area without a premium price tag for lot size.
This property would suit buyers looking for a character home in a central neighbourhood without extreme outliers in size or price. It’s a sensible choice for those who prioritize the community of North River Heights and a home that requires no surprises in terms of fitting in, while still offering good value relative to the entire Winnipeg market.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $443k is for municipal tax purposes. The last recorded sale was between $350k-$400k in late 2022. Market conditions, property updates, and buyer demand will determine the final sale price, which can be above or below the assessed value.
2. Is the lot size a disadvantage?
At 4,307 sqft, the lot is below average for Niagara Street and North River Heights. This typically means less yard for gardening or expansion but also translates to less exterior maintenance. It’s a trade-off that prioritizes house over land.
3. What does "around average" for the neighbourhood really mean?
It means this home is very typical for North River Heights in terms of size, value, and age. You are not overpaying for an exceptionally large or updated property, nor are you buying a project that is far below community standards. It represents the established character of the area.
4. The home was built in 1930. What should I consider?
Homes of this age often possess charming character but require diligent attention to aging components like plumbing, electrical, windows, and insulation. A thorough inspection is essential to understand the condition and any needed updates.
5. How can I get the exact historical sold prices?
The site provides sold price ranges for reference. To obtain the exact sale figures and a full transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS system.