Property Overview
490 Kingsway is a well-established home in Winnipeg's North River Heights neighbourhood. Built in 1928, it offers 2,048 square feet of living space on a 4,822 square foot lot, with a current assessed value of $508,000.
Key Characteristics & Appeal
This home presents a compelling value proposition within a desirable area. Its primary appeal lies in its above-average size and value when viewed in a broader context. While it is a more modest offering compared to the larger, higher-valued estates on Kingsway itself, it stands out positively against both the North River Heights average and the Winnipeg city-wide average for living space and assessed value. This creates an opportunity to access a character home in a prime neighbourhood without the premium price tag of its largest street-mates.
The property would suit a practical buyer looking for a solid, character home in a central location. It’s ideal for someone who values the established streetscape and community of North River Heights but may not require or want the upkeep of one of the street's grander lots and homes. It represents a sensible entry point into the area or a comfortable long-term home for those who prioritize location and functional space over sheer scale.
A less obvious perspective is the potential this lot size offers. While below average for Kingsway, it is very typical for the wider neighbourhood and city. This could appeal to buyers seeking a manageable outdoor space that is easier to maintain than the sprawling yards common on the street, while still offering room for gardening or recreation.
Frequently Asked Questions
1. How does this home’s value compare to others in the area?
The home’s assessed value of $508,000 is above the average for both North River Heights and Winnipeg as a whole, but it is below the average for properties on Kingsway itself. This indicates you are purchasing in a premium neighbourhood, but on a street where this is one of the more accessible properties.
2. Is the living space sufficient for a family?
At 2,048 sq ft, the living area is larger than the average home in both North River Heights and across Winnipeg. It provides ample space for a family, especially when considered against typical city standards, though it is smaller than the average home on Kingsway.
3. What should I consider with a home built in 1928?
A home of this age offers classic charm but requires diligent attention to maintenance and potential updates. Key systems like plumbing, electrical, and the roof should be carefully inspected. The year built is actually newer than most on Kingsway, but older than the majority of homes city-wide.
4. What does the sold price history indicate?
Records show the home sold in March 2016 for between $350,000 and $400,000. The increase to the current $508,000 assessment reflects market appreciation over nearly a decade. For exact historical sold prices, a manual lookup can be requested from the site.
5. Is the lot size a limitation?
The 4,822 sq ft lot is smaller than most on Kingsway but is very close to the average for North River Heights. It provides a balanced space: large enough for privacy and outdoor activities, but potentially more manageable and less time-consuming to maintain than the larger estates on the street.