Property Summary: 422 Cordova Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This is a compact, post-war home built in 1947, situated on a standard-sized lot in the established North River Heights neighbourhood. Its key characteristic is its modest scale: with 739 square feet of living space, it is notably smaller than most homes on its street and in the area. This translates directly to its assessed value of $358k, which is below the local average but aligns closely with the wider Winnipeg average.

The appeal lies in its position as a potentially accessible entry point into a desirable, mature neighbourhood. For the right buyer, the smaller size is a feature, not a flaw—it promises lower maintenance, lower utility costs, and a simpler footprint. It would suit a first-time homebuyer, a downsizer looking to stay in the area without excess space, or an investor seeking a manageable rental property in a stable location. A thoughtful perspective is that this property represents the "bones" of the neighbourhood at a more accessible price point, offering the same location benefits as larger, renovated homes nearby. Its value is fundamentally in the land and location, with the home itself presenting a clear opportunity for personalization or future expansion, subject to regulations.

Frequently Asked Questions

1. Why is the living area so much smaller than neighbouring homes?
This home was built in the post-war period and reflects a more modest, efficient design of that era. Many homes on the street and in North River Heights have been expanded over the decades, or were simply built larger originally.

2. How does the assessed value compare, and what does it mean for property taxes?
At $358k, the assessment is below average for North River Heights but very close to the city-wide average. Property taxes are based on this assessed value, so they should be proportionally lower than for a higher-valued home in the same area, though the exact mill rate must be confirmed.

3. What is the potential for adding on or renovating?
The 4,190 sqft lot provides a standard canvas for potential expansion, such as an addition or a rear deck. Any major changes would require checking with the city for zoning bylaws, setback requirements, and obtaining the necessary permits.

4. The data shows a sale in July 2021. Can I find out the exact sold price?
The provided data shows a sold price range of $300k-$350k for that sale. For fully verified and exact historical sale figures, you must request a manual lookup from the site, as they do not display MLS sold records.

5. Is this a good investment compared to similar-priced homes elsewhere in Winnipeg?
The investment case centers on paying a premium for location. For a similar price, you could likely get a larger or newer home in other city neighbourhoods. Here, you are investing primarily in the long-term stability and desirability of the North River Heights community.