Property Overview: 682 Cathedral Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home on Cathedral Avenue in Inkster-Faraday presents a practical and straightforward ownership opportunity. Its key characteristic is value: with a modest 787 sqft of living space and an assessed value significantly below the city average, it sits in an affordable price bracket. The home’s appeal lies in its efficient use of resources—it offers a renovated basement, a detached garage, and a land area that is notably larger than many lots in the immediate neighbourhood. This combination suggests potential for comfortable living without the burden of excessive space or taxes.

The property would suit first-time buyers seeking an entry point into the market, or pragmatic investors looking for a rental property with manageable overhead. Its older 1945 build date means charm and character are balanced with the responsibility of an aging structure. A thoughtful perspective is that this home outperforms many in its local area on metrics like assessed value and land size, indicating it might be a relative standout on its block rather than just another small house. It’s for those who prioritize financial efficiency and lot potential over sheer square footage.

Frequently Asked Questions

1. Is the house actually as small as the square footage suggests?
Yes, at 787 sqft, the living area is compact. However, the renovated basement provides additional functional space, and the lot is over 4,500 sqft, which is generous for the neighbourhood.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's modest size, age, and the local market in Inkster-Faraday. It indicates lower property taxes, which is a key part of the home’s affordability.

3. What does "above average for the area" in the rankings mean?
For several metrics, like assessed value and land area, this home ranks in the top tiers compared to its immediate neighbours. This suggests it may hold its value well within the local context.

4. Are sold prices for similar homes available?
Exact historical sold prices are not publicly listed in the details provided. The service associated with this data offers to provide exact figures via email request.

5. What are the main considerations with a home built in 1945?
While it offers classic character, buyers should budget for potential updates to older mechanical systems, insulation, or windows. A thorough inspection is essential to understand the condition behind the renovated basement.