Property Overview

This one-storey home at 698 Campbell Street in Central River Heights presents a solid opportunity in a desirable Winnipeg neighbourhood. Its primary appeal lies in the generous 6,001 sqft lot, which places it in the top 15% for land size on its own street and the top 21% within Central River Heights. This offers significant outdoor space and potential for expansion or gardening, which is increasingly valued. The home itself is more modest, with 1,105 sqft of living space, and benefits from a renovated basement. A detached garage and a 1953 build date round out the key features. The property’s assessed and recent sale values consistently perform above average for its immediate area, suggesting a well-regarded location.

This home would suit a first-time buyer or downsizer looking for a manageable single-level layout in a prime central neighbourhood, with the lot size offering a long-term advantage. It’s also a candidate for a land-value play, where the existing house provides immediate utility while the large lot holds future potential.

Frequently Asked Questions

1. Is the lot size a significant advantage?
Yes. The lot is substantially larger than most in the immediate area and neighbourhood. This provides more private outdoor space, better potential for additions or a garage suite (subject to zoning), and typically contributes to stronger property value retention.

2. What does "above average" assessed value mean for future taxes?
While an above-average assessment indicates the property is valued highly compared to peers, it doesn't automatically predict large tax increases. Property taxes are based on the municipal mill rate and your assessment relative to city-wide changes. However, it does confirm the market sees tangible value here, often in the land itself.

3. Who might find the living area too small?
The living space is below the neighbourhood average. Families needing multiple bedrooms or dedicated home-office spaces may find the 1,105 sqft layout tight, especially if the basement renovation isn’t a full secondary suite. It’s best for individuals, couples, or those who prioritize lot size over interior square footage.

4. How does the 1953 build date affect the home?
Being newer than many homes on the street is a plus for core systems, but a home of this age will still require diligent maintenance. Potential buyers should prioritize inspections for original plumbing, electrical, and insulation, while viewing the renovated basement as a key modernizing update.

5. Why is the sale price close to the assessed value?
A recent sale price ($51.5k) near the assessed value ($49.5k) often indicates a stable, transparent market valuation with less speculative pressure. It suggests the price is grounded in the official valuation metrics, which can provide confidence in the purchase price fairness.