Property Overview: 279 Niagara Street, Winnipeg

Key Characteristics & Appeal

This home at 279 Niagara Street in North River Heights is a classic 1928 bungalow with a practical footprint of 1,096 sq ft on a 4,320 sq ft lot. Its core appeal lies in its position as a more accessible entry point into a desirable, established neighbourhood. The data reveals a clear narrative: this is one of the lower-assessed properties on its street and in North River Heights overall, with an assessed value significantly below the local averages. This suggests a potential opportunity for buyers looking for location over size or immediate luxury.

The home would suit first-time buyers or practical downsizers who prioritize getting into a strong community over finding a large or fully updated property. It’s a candidate for a "value-add" purchase, appealing to those comfortable with a home that may require modernization but offers the foundational benefits of a mature lot in a prime area. A less obvious perspective is that its smaller living area, while below the neighbourhood average, is actually closer to the city-wide average, indicating a manageable scale for efficient living. Its age, while notable, is typical for the character-filled homes in this part of Winnipeg.

Frequently Asked Questions

1. Why is the assessed value so much lower than neighbours on the same street?
The assessed value of $321k ranks in the bottom 1% on Niagara Street, where averages are near $477k. This typically reflects a combination of the home's smaller size, its older construction date, and the likelihood that it has not been extensively renovated or expanded compared to others in the area.

2. What does the sold price history indicate?
Records show it last sold between $300k-$350k in September 2021. This places that sale price in the top half city-wide but below average for the immediate area, consistent with its profile as a more modest home in a sought-after location.

3. Is the lot size a pro or a con?
At 4,320 sq ft, the lot is slightly below average for North River Heights but offers ample outdoor space for a city property. It provides a balance—large enough for gardening, recreation, or potential expansion, but not so large as to be burdensome to maintain.

4. What should I consider about a home built in 1928?
Built 98 years ago, this home has the charm and solid construction of its era but warrants a thorough inspection. Key considerations will be the condition of major systems (plumbing, electrical, roof), insulation, and the potential presence of older materials like knob-and-tube wiring or lead paint, which are common in homes of this vintage.

5. How does this property fit within the broader Winnipeg market?
City-wide, this home is much more aligned with averages for living area, assessed value, and lot size. This highlights that its most distinctive feature is its location within North River Heights. You are effectively paying a premium for the neighbourhood, not for an above-average house, which defines the value proposition.