Property Overview: 359 Elm Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, established neighbourhood character, and relative value. Its nearly 2,000 sq ft of living area is notably above average, ranking within the top 20% for the North River Heights area and top 12% city-wide. This suggests a home that offers more interior room than most, ideal for growing families or those who value spacious layouts. Built in 1930, it is a classic example of the area's heritage, appealing to buyers who appreciate the charm and solid construction of a pre-war home, though this also implies a responsibility for ongoing maintenance.
The assessed value of $531k sits above the city and area averages, yet is around the median for Elm Street itself. This indicates you are paying for a premium location within a desirable neighbourhood, not just square footage. The lot size is consistent with local norms, offering typical outdoor space for the area.
This property would best suit buyers looking for a character home with ample interior space in a mature, sought-after neighbourhood. It’s a strong option for those who prioritize location and roominess over a newer build, and who are prepared to steward a home with nearly a century of history. A thoughtful perspective is that its "above-average" size and value within its immediate street context suggest a solid, established property that isn’t an outlier, but rather a well-positioned anchor on the block.
Frequently Asked Questions
1. How does the 1930 build year affect this home?
While offering classic charm and likely sturdy construction, a home of this age will require diligent maintenance. Prospective buyers should budget for potential updates to major systems like plumbing, electrical, or the roof, and prioritize a thorough inspection.
2. The home sold in 2021. What can that price tell me?
The sold price range (CA$450k-500k) gives a recent market benchmark. The fact that the current assessed value ($531k) is higher reflects market appreciation and municipal assessment methods. For exact historical sold prices, you must request the information directly via email from the site.
3. Is the lot size a pro or a con?
At 4,820 sq ft, the lot is standard for North River Heights. It provides typical yard space for the neighbourhood but is not exceptionally large. It suits those wanting a manageable outdoor area consistent with the community feel, not those seeking extensive privacy or room for major expansions.
4. What does the "above average" living area ranking actually mean?
It means this home offers more interior space than most in Winnipeg. Compared to the city-wide average home (1,342 sq ft), this property provides over 600 additional square feet, a significant gain for daily living, home offices, or family needs.
5. Why is the assessed value only "around average" on Elm Street itself?
This is an insightful detail. It suggests that Elm Street is a uniformly desirable street where property values are consistently high. Therefore, while this home is valuable, it is priced in line with its immediate neighbours, indicating the premium is for the location as a whole.