Property Summary: 473 Cordova Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, well-situated one-storey home in the sought-after Central River Heights neighbourhood. Its primary appeal lies in its generous, above-average lot size—ranking in the top 7% for land area on its street—offering significant outdoor space and potential in a mature area. The home itself is modest in size at just over 1,000 sqft, with a renovated basement adding functional living space. A detached garage provides additional storage or workshop potential.
The property suits practical buyers who value location and land over a large existing footprint. It’s ideal for a first-time buyer seeking entry into a prime neighbourhood, a downsizer looking for manageable indoor space with a private yard, or an investor/renovator who sees value in the lot and the solid foundation of a 1950s build. The home’s assessed and recent sale value are notably below average for the immediate street, which could represent a value opportunity in a high-demand area, suggesting the appeal is in the property's underlying assets rather than a turnkey, modern interior.
Section 2: Frequently Asked Questions
1. Is the house small for the neighbourhood?
Yes, the living area is below average for both the street and Central River Heights. This is reflected in its price and assessment, making it an affordable option in the area where you're primarily paying for location and land.
2. What does "renovated basement" mean?
The listing confirms the basement is renovated but does not specify to what extent. A professional inspection is recommended to determine the finish quality, ceiling height, and whether it includes a legal secondary suite or additional bedrooms.
3. How does the lot size compare?
The 5,617 sqft lot is a key feature. It's significantly larger than most on Cordova Street (top 7%) and above average for the neighbourhood, offering more privacy, garden space, or future expansion potential than typical properties in this price range.
4. Why is the assessed value lower than nearby homes?
The lower assessment is consistent with the home's smaller size and older year of build (1951) compared to peers. It primarily reflects the current structure's value, not necessarily the full market value of the land in this location.
5. What is the typical buyer for this home?
Given its profile, it likely attracts first-time homeowners wanting to enter River Heights, practical downsizers from larger homes in the area, or buyers with renovation plans who are comfortable with a project to modernize the interior over time.