Property Overview: 488 Ash Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home is a classic 1943 bungalow situated on a 4,820 sqft lot in the established North River Heights neighborhood. With 1,122 sqft of living space and an assessed value of $424k, it presents a specific value proposition. Its appeal lies in its context: while the house itself is more compact and the lot is smaller than many on its own street, it sits in a desirable, mature area where its value is above the Winnipeg citywide average. This creates an opportunity for entry into a sought-after location at a relatively accessible price point.
The property would suit a first-time buyer or a downsizer seeking a lower-maintenance footprint without leaving a prime neighborhood. It’s a practical choice for someone who values location and lot potential over immediate square footage, as the home offers a solid foundation for future updates or an addition. A thoughtful perspective is that its "below average" size on the street is precisely what makes it a more attainable option in an area where larger homes command a significant premium. Recent sale history shows steady appreciation, suggesting a stable investment in a well-regarded community.
Frequently Asked Questions
1. How does this home’s size compare to others in the area?
The living area is 1,122 sqft, which is below the average for both Ash Street and the wider North River Heights area. However, it is much closer to the average home size across the entire city of Winnipeg.
2. Is the assessed value in line with the neighborhood?
Yes. The $424k assessment is around the average for both Ash Street and North River Heights. It is notably higher than the citywide average, reflecting the premium for this established neighborhood.
3. What is the property’s recent sale history?
The home sold in September 2022 for between $350,000 and $400,000, and prior to that in December 2020 for between $300,000 and $350,000. This indicates a pattern of appreciation. Exact sold prices can be requested by email.
4. What are the implications of the home being built in 1943?
Built 83 years ago, it is typical for the vintage of North River Heights. Buyers should budget for the maintenance and potential updates expected of a home of this age, while also appreciating the character and established lot that come with it.
5. How does the lot size affect potential?
At 4,820 sqft, the lot is smaller than most on Ash Street but is near the average for North River Heights. It provides a good outdoor space for a home of this size and may offer potential for landscaping or a garden suite, subject to zoning regulations.