Property Summary: 347 Montrose Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 347 Montrose Street in North River Heights is a well-situated, classic property that presents a balanced opportunity. Built in 1945, it offers 1,432 sqft of living space on a generous 5,997 sqft lot. Its assessed value of $544,000 positions it above average for both the broader city and the desirable North River Heights area, suggesting a solid foundation of perceived value.
The primary appeal lies in its established neighbourhood context and its lot size. The property sits on a larger-than-average parcel for North River Heights, offering valuable outdoor space and potential in a mature community. While the living area is modest compared to some immediate neighbours, it represents a comfortable size city-wide. This creates an interesting dynamic: you're investing in a premium location and land, with a home that may benefit from modernization or an addition to fully leverage the lot's potential. It last sold in September 2020 for between $450,000 and $500,000, indicating significant growth in its assessed value since then.
This property would suit a buyer who values a established, tree-lined neighbourhood over a brand-new build. It's ideal for someone with a vision—whether that's updating a classic home to modern standards or seeing the long-term potential in the sizable lot. It may also appeal to a value-conscious buyer looking to enter North River Heights, who is comfortable with a home that is functional as-is but holds upside.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to a likely selling price?
The $544,000 assessment is a municipal valuation for tax purposes, not a market price. However, it being above area and city averages is a positive indicator of the property's official valuation. The final sale price will be determined by current market conditions, the home's interior condition, and buyer demand.
2. Is the living space too small for the neighbourhood?
At 1,432 sqft, the home is smaller than the average on Montrose Street but is closer to the average for North River Heights as a whole. It provides adequate space for many households, and the larger lot could allow for a future expansion if desired, which is a key compensating factor.
3. What are the implications of the home being built in 1945?
This era of home offers character and often sturdy construction. Buyers should budget for a thorough inspection to understand the condition of major aging components like the roof, plumbing, electrical systems, and insulation, which may need updating or will require future maintenance.
4. The lot is large for the area. What does that mean practically?
A nearly 6,000 sqft lot in this neighbourhood provides excellent private outdoor space, room for gardening, play areas, or landscaping projects. It also potentially offers more future flexibility (like an addition) than many neighbouring properties, which can be a significant long-term asset.
5. How can I verify the past sale price?
The listed sale range from 2020 is based on publicly available data. For fully verified and exact historical transaction figures, you would need to request a manual lookup from the site via email, as they do not display official MLS sales records.