Property Overview

This 1953 one-storey home at 672 Niagara Street in Winnipeg's Central River Heights presents a compelling opportunity centered on its generous lot and established location. The key appeal lies in its above-average, 5,909 sqft land area, which ranks within the top 13% for Niagara Street, offering significant outdoor space and potential in a mature neighbourhood. The home itself is more modest in size at 1,243 sqft and features a renovated basement. It last sold in December 2022 for $460k, a price point that was above average citywide but around the median for its immediate area.

This property would suit a buyer who prioritizes land size and location over a large existing footprint. It's ideal for someone with a vision for outdoor living, gardening, or future expansion, and who values the character and convenience of the Central River Heights neighbourhood. It may also appeal to those comfortable with a home that offers functional living space with the value primarily anchored in the property itself.

Frequently Asked Questions

1. Is the land size a major advantage?
Yes. The lot is significantly larger than most on Niagara Street and in Central River Heights. This provides more privacy, yard space, and future potential than is typical for the area.

2. The living area seems smaller than average. Is the house too small?
The living area is below average for the street but typical for Winnipeg overall. The renovated basement adds functional space. Buyers should consider if the current layout meets their needs or if the large lot allows for a future addition.

3. How does the 2022 sale price compare to the assessed value?
The $460k sale price is substantially higher than the $43.5k assessed value. This is normal, as municipal assessed value for tax purposes is not a market valuation. The sale price is the relevant market indicator.

4. What does the "above average" citywide sale price ranking mean?
It indicates that, compared to all Winnipeg home sales, this property sold for more than roughly 73% of them. This reflects the desirability of the Central River Heights neighbourhood, even for a smaller home on this street.

5. The home was built in 1953. What should I be concerned about?
While the basement has been renovated, the core structure and major systems (like plumbing, electrical, and the roof) are over 70 years old. A thorough inspection is essential to understand the condition and any needed updates, which is typical for a home of this vintage.