Property Overview: 492 Ash Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home, built in 1943, presents a classic North River Heights character property on a 4,820 sqft lot. Its key characteristic is its compact, efficient living space of 993 sqft, which is notably smaller than most homes on its street and in the established neighbourhood. This creates a distinct value proposition: the assessed value of $420k is positioned around the average for the immediate area, suggesting you are paying primarily for the desirable location and land, rather than for extensive square footage.
The appeal lies in this very balance. It offers an entry point into a well-regarded, mature neighbourhood without the premium often attached to larger, updated homes. It would suit a pragmatic first-time buyer, a downsizer seeking to maintain a garden and community connection without the upkeep of a large house, or an investor looking for a solid location with renovation potential. A thoughtful perspective is that the smaller interior footprint can mean lower utility costs and less maintenance, aligning with a simpler, more efficient lifestyle. The lot size, while below average for Ash Street, is still generous by city-wide standards, offering valuable outdoor space.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its 1943 construction and the focus on lot/location value in its assessment, buyers should budget for updates. The interior size suggests a layout typical of its era, which may benefit from modernization.
2. How does the sold history affect its current value?
It last sold in July 2023 for an estimated $450k-$500k. This recent sale, at a price above the current assessed value, provides a strong, contemporary benchmark for the property’s market worth.
3. What are the property taxes likely to be?
Taxes are calculated based on the $420k assessed value and the City of Winnipeg’s mill rate. You can request an estimate, but the assessment provides a reliable base for calculation.
4. The living area is quite small. Is there potential to expand?
The generous lot size relative to the house footprint may present an opportunity for an addition, subject to local zoning bylaws and building permits. This is a key point for a buyer to investigate.
5. How can I verify the exact past sale prices?
The site provides sold price ranges for transparency. To obtain the exact historical sale figures, you must request them directly via email, as this data is not sourced from the MLS.