Property Overview: 152 Cavell Drive, Winnipeg
Key Characteristics & Appeal
This home is a classic one-and-three-quarter storey house built in 1925, situated on a 3,987 sqft lot in Bruce Park. With 1,128 sqft of living space, it offers a comfortable footprint that is average for its immediate street and neighbourhood. The property features a basement, but it is noted as not renovated, and there is no garage or pool.
The primary appeal lies in its value and potential. The home’s assessed value is notably below average for its area, which contributed to its last sale price of $270,000 also being below local benchmarks. This presents a clear opportunity for buyers seeking an entry point into the market or those with a renovation budget. The lot size, while below the city average, is typical for the street and offers manageable outdoor space.
This property would best suit a practical, value-conscious buyer. It’s ideal for a first-time homeowner willing to take on cosmetic updates over time, or an investor looking for a solid rental property in an established neighbourhood. Its unrenovated state means it’s likely not a fit for someone seeking immediate move-in perfection, but perfect for someone who wants to add their own equity through thoughtful improvements.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating functional but sometimes cozier upper-level rooms compared to a full two-storey home.
2. The assessed value seems very low compared to the sale price. Why?
Municipal assessed value for tax purposes is not a direct reflection of market value. It’s an administrative figure that often lags behind current market conditions. The sale price is determined by what a buyer is willing to pay in the open market.
3. What are the implications of the "basement, not renovated" note?
This indicates the basement is unfinished or in original condition. Buyers should budget for potential updates, consider moisture-proofing, and factor in the cost of developing the space if they wish to use it for living or storage. A professional inspection is highly recommended.
4. How does the lack of a garage affect daily life and value?
In Winnipeg, a garage is a significant convenience for winter. Buyers should plan for street parking and the associated seasonal challenges (plug-ins, snow clearing). The absence of a garage is reflected in the home’s price and is a common feature of many older, character homes.
5. The rankings show the home is "below average" in many metrics. Is this a bad sign?
Not necessarily. These statistical rankings compare the home to a broad set of "comparable" properties. For a 1925 home, being average or below in size and value is expected. The key perspective is that it offers a competitively priced, character home in an established neighbourhood, which is a specific and desirable niche in the market.