94 Niagara Street: Property Summary
Key Characteristics & Buyer Profile
This 1920-built home on Niagara Street sits on a 4,260 sqft lot and offers 2,593 sqft of living space, with a current assessed value of $820,000. Its strongest feature is interior space: the home ranks in the top 1% of properties on Niagara Street for living area, and in the top 2% citywide. The assessed value follows a similar pattern—top 3% on the street and top 2% across Winnipeg—though it sits closer to the neighborhood average within Wellington Crescent.
The trade-offs are worth noting. The home is older than most comparables on the street (built 1920 vs. a street average of 1941), and the lot is small by neighborhood standards—ranking in the bottom 10% within Wellington Crescent, where average land size is over 9,400 sqft. Citywide, the lot is more typical.
This property would suit a buyer who prioritizes generous interior square footage and established character over land size. It may appeal to someone looking for a home that punches above its weight in living space without the premium typically attached to a large lot in a high-end neighborhood. The home offers a way into Wellington Crescent—a traditionally desirable area—at a value point that reflects the older structure and smaller grounds rather than the price of land.
Five Possible FAQs
1. Does the older construction suggest the home needs significant updates?
Not necessarily. The year built (1920) is simply a data point—it doesn't reflect the condition or quality of renovations. Many homes from this era have been fully updated. A proper inspection is the best way to assess current state.
2. Why is the land area so small compared to the neighborhood average?
This home is on Niagara Street, which tends to have tighter lots than the Wellington Crescent area as a whole. The street average is about 4,870 sqft, so this property is actually close to typical for its immediate block. The neighborhood average is pulled up by larger estate lots on Crescent itself.
3. How does the assessed value relate to market price?
The assessed value ($820,000) is a city estimate for property tax purposes. Market price can differ based on condition, recent sales of comparable homes, and how much buyers are willing to pay for the location and square footage. It's a reference point, not a price tag.
4. Is a top 2% citywide ranking for living area unusual in Winnipeg?
Yes, it's quite unusual. With over 194,000 comparable properties citywide, this home's 2,593 sqft puts it ahead of 98% of them. That level of interior space is a genuine rarity, especially on a street where the average home is about 1,500 sqft.
5. What type of buyer typically targets a home like this?
Often it's someone who wants a larger older home in a prestigious postal code without paying for a premium lot. The small yard is a trade-off, but it also means less maintenance—which appeals to some owners. Others are looking for a solid footprint they can update over time while being in a strong resale area.