Property Overview: 494 Montrose Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 1,636 sqft home, built in 1950 on a 5,998 sqft lot, presents a solid, mid-century offering in the established North River Heights neighbourhood. Its primary appeal lies in its balanced positioning. The home isn't an outlier in any single category but offers above-average space and value when viewed in the broader Winnipeg context. With a living area larger than 76% of city homes and an assessed value higher than 81% of them, it provides more interior room than many newer builds at a value that stands out citywide.
Within its own desirable neighbourhood and street, however, it sits closer to the middle of the pack. This creates an interesting dynamic: it’s a property that feels competitively priced and spacious compared to the wider market, yet remains a typical, well-integrated home on its block. This balance suits buyers looking for a genuine, move-in-ready home in a prime area without the premium price of a top-tier neighbourhood standout. It would particularly suit a growing family or professional seeking the stability and charm of North River Heights, who values a generous lot and functional space over a modern renovation or a historic pedigree. The 1950 build date suggests a home likely past its major replacement cycles for original components, which can be a plus for buyers wary of hidden issues in much older homes.
Frequently Asked Questions
1. How does this home’s value compare to its last sale?
The property sold in September 2016 for an estimated $350,000-$400,000. With a current assessed value of $502,000, this indicates significant appreciation, consistent with market trends in sought-after neighbourhoods over that period.
2. Is the lot size a advantage?
At nearly 6,000 sqft, the lot is larger than 84% of properties in North River Heights, which is a considerable asset. It offers ample outdoor space for gardening, play, or expansion, setting it apart from many neighbouring properties.
3. What does the "above average citywide, but average locally" ranking mean for me?
This highlights the strength of the North River Heights market. You are buying into a neighbourhood where homes are generally larger and more valuable than the city average. This home offers access to that premium location while being priced within the local norm, which can provide stability and a realistic entry point.
4. The home was built in 1950. What should I consider?
A home of this age may have undergone updates. Key systems like wiring, plumbing, windows, and the roof should be carefully inspected. The positive angle is that many major updates for a house of this era may already have been addressed by previous owners.
5. How current is the sold price data provided?
The sold price shown is from 2016. For the most recent sales data and exact historical prices, you must request a manual lookup from the site via email, as they do not display MLS sold records due to industry rules.