Property Overview: 487 Lindsay Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This well-situated home at 487 Lindsay Street presents a compelling blend of space, value, and modern convenience within the established North River Heights neighborhood. Built in 1978, it is a notably newer construction compared to many homes in the area, which often date back to the mid-20th century. This suggests potentially fewer concerns with aging major systems and a layout that may align more closely with contemporary living standards.
The home’s primary appeal lies in its strong value proposition. With an assessed value of $534,000, it ranks well above average for its street, neighborhood, and the city overall. This is paired with a comfortable 1,243 sqft of living space and a generous 5,598 sqft lot that is larger than many in North River Heights. The data indicates you are acquiring a property with a premium assessment on a good-sized lot, in a newer home for the area, all at a square footage that is practical and efficient.
This property would suit buyers looking for a move-in ready home in a prime neighborhood without the maintenance demands of a true heritage property. It’s ideal for professionals, small families, or downsizers who prioritize a quiet, established community but desire the practical benefits of a more modern build. The strong assessed value metrics also make it a point of interest for those with an eye on long-term property value stability.
Frequently Asked Questions
1. How does the 1978 build year affect this home?
Being built in 1978 means this home is significantly newer than the neighborhood average (often homes from the 1930s-1950s). This typically translates to modern wiring, plumbing, and insulation standards, potentially resulting in lower immediate maintenance costs and better energy efficiency compared to much older homes in the area.
2. The assessed value seems high relative to nearby homes. What does this mean?
The assessment of $534,000 ranks in the top 9% on Lindsay Street and top 23% in North River Heights. This reflects the city’s valuation of the property’s combination of lot size, living area, and notably newer construction. It doesn't dictate market price, but it is a strong indicator of the property’s standing and perceived value within its immediate context.
3. Is the living space sufficient for a growing family?
At 1,243 sqft, the living area is practical and slightly above the average for Lindsay Street. It is, however, below the broader neighborhood average. This suggests an efficient, likely well-configured layout that maximizes space. It is best suited for small to medium-sized families or those who value manageable space over expansive square footage.
4. What can the past sale data tell me?
The home last sold between $400,000-$450,000 in February 2019. This historical data provides a benchmark for past market value. The current assessed value being substantially higher suggests significant appreciation or improvements since that last sale, highlighting the importance of a current market evaluation.
5. How does the lot size compare and what are the possibilities?
The 5,598 sqft lot is above average for North River Heights. This offers more outdoor space than many properties in the area, providing room for gardening, recreation, or future additions like a deck or garage, subject to local zoning regulations. It’s a key feature that adds to the property’s long-term utility and value.