Property Summary: 364 Niagara Street, Winnipeg

Key Characteristics & Appeal

This home on Niagara Street in North River Heights presents a distinct value proposition. Its most notable characteristic is its assessed value of $307k, which is significantly below the average for both its immediate street ($476.8k) and the North River Heights area ($479.3k), though it aligns more closely with the Winnipeg city-wide average. This suggests an entry point into a established, desirable neighbourhood at a lower price threshold. The lot size of 4,464 sq ft is fairly typical for the street but offers potential for outdoor space or future expansion.

The appeal lies in its position as a potential opportunity. It suits buyers prioritizing location over turn-key condition, such as value-conscious investors, first-time buyers seeking a foothold in a prime area, or those with a renovation budget looking to add value. A thoughtful perspective is that the below-average assessment, while indicating a potentially dated or simpler home, could also mean more manageable property taxes compared to neighbours. Its recent sale history (sold in late 2023 and again in late 2024) suggests it may be a property with untapped potential or one that attracts quick, value-driven interest.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
A lower assessment typically reflects factors like a smaller living area, an older or more basic interior finish, a layout that hasn’t been modernized, or fewer upgrades compared to neighbouring homes. It’s a key indicator to investigate the home’s condition and potential update needs.

2. What does the recent sale history (sold in 2023 and again in 2024) indicate?
This pattern can point to a few scenarios: it may have been a quick investment flip, a property that required more work than initially anticipated, or simply a change in the owner’s circumstances. It underscores the importance of understanding the nature of the recent transactions and any work done during that period.

3. Is the lot size a good feature?
At 4,464 sq ft, the lot is around average for Niagara Street but below the average for North River Heights as a whole. It provides a decent-sized urban yard. For this property, the land likely contributes more to the overall value proposition than the current structure, offering room for gardening, play, or future improvements.

4. How reliable are the sold price ranges shown?
The site notes that sold price data is from public sources, not the MLS, and is presented in $50k bands for non-members. For fully verified and exact sale figures, you must request a manual lookup from the site via email, as they do not have access to official MLS sales records.

5. Who would this property be a good fit for?
It’s best suited for a buyer who sees potential where others might see a project. This includes contractors or handy homeowners planning renovations, investors looking for a rental in a stable area, or first-time buyers willing to trade modern finishes for a coveted North River Heights address, with a plan to improve it over time.