Property Overview: 501 Campbell Street, Winnipeg

Key Characteristics & Appeal

This home at 501 Campbell Street in North River Heights is a classic Winnipeg property built in 1941, offering a blend of established neighbourhood character and practical value. With 1,080 sqft of living space and a generous 5,999 sqft lot, it presents a solid opportunity. Its appeal lies in its balance: the lot size is notably above average for the desirable North River Heights area, offering more outdoor space than many neighbouring properties, while the home's assessed value of $415,000 sits comfortably around the average for the street and city. This creates a scenario where you're investing more in the land and location than in an oversized house, which can be efficient for maintenance and utility costs.

The home would suit a buyer looking for an established, tree-lined neighbourhood without a premium price tag for a massive footprint. It’s a practical choice for first-time homeowners, downsizers, or investors seeking a character property with a manageable scale. A thoughtful perspective is that, while the living area is modest compared to some newer homes, the larger-than-average lot for the area provides valuable flexibility for gardening, expansion, or simply enjoying more private outdoor space—a feature that is increasingly valued and cannot be easily added later.

Frequently Asked Questions

1. How does the home’s size compare to others nearby?
At 1,080 sqft, the living area is slightly below the average for North River Heights but is around the average when compared to the immediate street and the wider city. It represents a more compact, efficient layout.

2. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $415,000 is a municipal tax valuation. Recent sold price data for this property (between $400k-$450k in 2025) suggests the market price aligns closely with this assessment, but a professional appraisal and market analysis are always recommended.

3. What does the lot size mean for me?
The lot of nearly 6,000 sqft is a standout feature, ranking in the top 15% for size within North River Heights. This means more yard space, potential for additions (subject to zoning), and greater distance from neighbouring homes than is typical in the area.

4. Are there concerns with a home built in 1941?
While the 85-year-old home offers charm, it warrants a thorough inspection. Key systems like wiring, plumbing, and the foundation should be evaluated for updates and overall condition. Its age is typical for the central character of this neighbourhood.

5. How can I get the exact historical sale prices?
The website provides sold price ranges. To obtain the exact figures, you must request them directly via email, as this site does not have access to the official MLS sales history due to industry regulations. They provide this data manually upon request.