Property Overview: 693 Cathedral Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1946, presents a solid, no-frills opportunity in the Inkster-Faraday neighbourhood. With 1,056 sqft of living space and a renovated basement, it offers functional living on a standard 4,562 sqft lot with a detached garage. Its core appeal lies in its relative value and stability within its immediate context. While its size and assessed value are modest citywide, the home stands above average for its area in key metrics: it's newer than most in Inkster-Faraday, sits on a larger-than-average lot for the neighbourhood, and holds an assessed value that ranks in the top 16% locally. This suggests a property that is a steady performer within its community, rather than a standout citywide investment.

The home would suit practical, value-conscious buyers—perhaps first-time homeowners or long-term residents seeking an affordable entry into a neighbourhood where they can put down roots. It’s for someone who prioritizes a renovated basement and functional space over modern luxury, and who understands that the value here is defined by its strength within the local area rather than by city-wide comparisons. The recent sale history indicates stable, gradual appreciation in its micro-market.

Frequently Asked Questions

1. Is this a good investment compared to the rest of Winnipeg?
This depends on your investment perspective. Citywide, its assessed value is below average. However, within the Inkster-Faraday area, it ranks well above average. This suggests it may be a stronger, more stable investment within its local market context than it appears on a broad city scale.

2. What does the "renovated basement" likely include?
The listing confirms a renovated basement but does not specify details. Prospective buyers should inquire directly about the scope, permits, and finish quality, as this can range from basic moisture control and flooring to fully finished living spaces.

3. How does the lot size compare?
At 4,562 sqft, the lot is above average for the Inkster-Faraday neighbourhood, offering more outdoor space than many nearby properties. Citywide and for the street itself, it is around average.

4. Why is the assessed value so much lower than the citywide average?
The citywide average assessed value is skewed by newer, larger homes in higher-value neighbourhoods. The assessed value of this home is aligned with, and in fact above, the averages for both its street and its area, reflecting its realistic market position in its specific location.

5. How can I find out the exact past sold prices?
The provided sold price ranges are based on public data. The listing service offers to provide the exact historical sold prices via a manual email request, at no cost and without marketing spam, typically by the end of the same business day.