Property Overview: 262 Montrose Street, Winnipeg

Key Characteristics & Appeal

This home at 262 Montrose Street in North River Heights presents a compelling profile defined by its spacious interior within a well-established neighbourhood. Its primary appeal lies in its generous 2,285 sqft of living area, which ranks within the top 5% of homes citywide and the top 9% within North River Heights. This suggests a property offering more interior space than most, ideal for growing families or those who value ample room.

The assessed value of $534k sits above average for both the wider city and the local area, yet is around the median for Montrose Street itself. This positioning indicates you are paying for the desirable location and the home's considerable size, rather than an oversized lot. Notably, the lot is compact at 3,962 sqft, which is smaller than most in the vicinity. This trade-off results in lower exterior maintenance while still providing a good-sized yard. The home's character is rooted in its 1914 construction, meaning it is notably older than area averages. This will suit buyers who appreciate classic architecture and are prepared for the nuances of a century-old home, potentially viewing updates as an opportunity to add personal value.

This property would best suit practical buyers seeking space and location over land. It’s ideal for a family looking for a large interior in a prime neighbourhood without the upkeep of an extensive garden. It also appeals to those who see potential in an older home's character and are making a calculated choice to invest in living area and community over a newer build or a larger lot.

Frequently Asked Questions

1. How does the smaller lot size impact the property?
While the land area is below average for the street and neighbourhood, it translates to less yard maintenance. The value is concentrated in the home's living space and location, making it a efficient choice for those who prioritize indoor living and a convenient, established community.

2. What should I consider about the 1914 build date?
The age places it in the bottom 10-15% for year built in the area. Prospective buyers should budget for and prioritize a thorough inspection to understand the condition of major systems (plumbing, electrical, roof) and the potential need for updates. This age also often brings classic design features not found in newer homes.

3. The assessed value seems high for the street. Why?
The assessment is above the city and neighbourhood averages but aligns with the Montrose Street average. This is largely due to the home's significant living area, which is well above typical sizes. The value reflects the substantial amount of finished interior space you are acquiring.

4. How reliable is the sold price data from 2019?
The listed sale range of CA$500k–550k from July 2019 is based on publicly available data. For fully verified and exact historical transaction figures, you must request a manual lookup from the site, as they do not have access to MLS sales records.

5. What does the "Elite" ranking for living area actually mean?
It means this home's interior square footage exceeds 95% of all residential properties in Winnipeg. In practical terms, you are getting a home that is significantly larger than the typical Winnipeg house (1,342 sqft average), offering rare interior volume for the market.