Property Overview: 460 Ash Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home at 460 Ash Street is a 1,613 sqft residence built in 1942, situated on a 4,819 sqft lot with a current assessed value of $390,000. Its appeal lies in its position as a solid, character home in the established North River Heights neighborhood. The living space is comfortably above the city-wide average, offering more room than many Winnipeg homes. A key perspective is its value proposition: while its assessed value is notably below the average for its own street and neighborhood, it sits right at the city-wide average. This suggests a potential opportunity to own a well-sized home in a desirable area at a valuation that hasn't kept pace with its immediate peers, possibly due to the lot size being smaller than others on the block.

The property would suit a practical buyer looking for character in a mature neighborhood without a premium lot size requirement. It's ideal for someone who values interior space over extensive yard maintenance and is potentially savvy about value—recognizing that updates to a home from the 1940s can be an investment that also brings its value closer in line with the area. The last known sale was between $300k-$350k in 2019, indicating significant equity growth since then.

Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value of $390,000 is for municipal tax purposes. Market value is determined by what a buyer is willing to pay in the current market. The fact that this assessment is below the neighborhood average may be a point of discussion in pricing.

2. What does the lot size mean for me?
At 4,819 sqft, the lot is smaller than most on Ash Street but is typical for the broader North River Heights area. This means less yard to maintain but may also limit expansion possibilities like large additions or pools compared to neighbors.

3. As a home from 1942, what should I be concerned about?
Homes of this age often have character but may require updates to major systems like plumbing, electrical, or insulation. A thorough inspection is essential to understand the condition of the original components and any renovations that have been done.

4. How does the last sale price relate to today’s value?
The home sold for between $300,000 and $350,000 in August 2019. The increase to the current assessed value reflects market changes over five years. The exact sale price can be requested to better understand the appreciation history.

5. The data shows the value is low for the street but average for the city. What does that indicate?
This often highlights the desirability and higher price point of Ash Street itself. It suggests you are buying into a premium location, but this specific property may be priced more accessibly due to factors like lot size, condition, or specific features compared to its immediate neighbors.