Property Overview: 374 Cabana Place, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Central St. Boniface sits on a notably large, 6,158 sqft lot, placing it well above average for both the neighbourhood and the city. The home itself, built in 1953, is of a vintage common to the immediate street but is actually among the newer homes in the broader St. Boniface area. With 1,216 sqft of living space, it offers a comfortable footprint that is typical for the locale. A key updated feature is the renovated basement, adding functional living space, and the property includes a detached garage.

The primary appeal lies in its land value and location. The lot size is a significant asset, offering ample outdoor space and potential in a well-established community. Its assessed value is modest relative to the city average, suggesting a potentially accessible entry point into the neighbourhood. This property would suit a buyer looking for a solid foundation—either a home to grow into with room for expansion or a land-value play in a central area. It’s a practical choice for those who prioritize yard space and location over a modern or large interior footprint.

Section 2: Frequently Asked Questions

1. Is the low sale price a red flag?
The recent sale price of $31,500 is significantly below typical Winnipeg home prices and the city-wide assessed average. This usually indicates a property sold for land value, potentially as a teardown, or in as-is condition. Professional inspections and due diligence are essential.

2. What are the implications of such a large lot?
Beyond extra private space, a larger lot can offer future potential like additions, a garden, or a new build. It also likely means higher property taxes relative to the house size, and maintenance (like lawn care) will be more demanding.

3. How does the "renovated basement" factor in?
While a positive, the extent and quality of the renovation are key. It adds liveable space, but it's important to verify permits were obtained and that the work meets current building codes, especially for moisture control and ceiling height.

4. The home is older—what should I be most concerned about?
Built in 1953, expect aging core components. The roof, plumbing, electrical system (especially if not updated), and foundation should be priority inspection items. The renovated basement should be closely examined for any signs of past water issues.

5. Who are the typical buyers for a property like this?
It often attracts investors, builders interested in the land, or practical homeowners willing to undertake updates. It's less likely to suit buyers seeking a move-in-ready home or who are not prepared for potential renovation projects or redevelopment considerations.