Property Overview
This 3-level split home at 637 Cordova Street in Central River Heights is a property defined by its generous space and established neighbourhood. Built in 1954, it sits on a large 6,260 sqft lot that ranks within the top 4% for size on its own street. The 1,914 sqft of living space is also notably above average for both the immediate area and the wider city. Key features include a renovated basement and a detached garage. The home last sold in 2017.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its substantial lot size and spacious interior, offering room to grow or garden in a sought-after, mature neighbourhood. Its renovated basement adds modern, flexible living space. The home suits buyers looking for a solid, character home in a central location who value outdoor space over a brand-new build. It’s particularly well-suited for:
- Growing families or multi-generational households who can utilize the split-level layout and renovated basement.
- Value-conscious buyers seeking a home with above-average square footage and land for the area, presenting a strong foundation for future updates.
- Long-term investors or homeowners who appreciate the stability and enduring appeal of the River Heights area, where land is a premium asset.
A less obvious perspective is that while the home is older, its 1954 build date is actually newer than many comparable homes on its street and in Central River Heights, potentially meaning fewer concerns with some pre-war building materials or styles. The significant lot size also offers a rare opportunity for expansion, landscaping, or simply enjoying more private outdoor space than is typical in the neighbourhood.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (listed as $50.80k) is for municipal tax purposes. The market value, or what a buyer would pay today, is determined by current market conditions and is typically different. The last recorded sale was in 2017 for $41.30k.
2. What does the ranking data (e.g., "Top 4%") actually tell me?
It shows how this property compares to others. For example, its land area is larger than 96% of similar properties on Cordova Street, making it a standout feature. This data helps highlight the home’s relative strengths, like its above-average living space, within specific comparison groups.
3. What are the implications of a detached garage?
A detached garage offers flexibility—it could be used as a workshop, studio, or for vehicle storage without impacting the home's living space. However, it may be less convenient during Winnipeg winters compared to an attached garage.
4. The home was built in 1954. What should I consider?
While the renovated basement is a plus, an older home means other systems (like plumbing, electrical, or the roof) may require inspection and potential updating. The rankings show it is newer than many area homes, which can be an advantage.
5. How does the last sale price from 2017 affect today's value?
It provides historical context but does not set the current price. The market has likely changed significantly since 2017. It's most useful for understanding past trends, not for determining a present-day offer.