Property Overview
This one-storey home at 664 Cordova Street in Central River Heights is a property defined by its generous lot and established neighbourhood, offering a specific value proposition. Built in 1952, it sits on a 5,240 sqft lot that is notably larger than most on its street. The home itself is more modest in size at 1,014 sqft of living space, but it features a renovated basement and a detached garage. Its current assessed value is $440,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its land and location. The lot size is in the top 12% for Cordova Street, providing ample outdoor space and potential in a sought-after, mature neighbourhood like Central River Heights. This makes it particularly suitable for buyers who prioritize yard space over a large interior footprint—think gardeners, those seeking room for children or pets to play, or long-term investors who value the underlying land value in a stable area. The renovated basement adds functional living space, a key update for a home of this vintage.
It would best suit a pragmatic first-time buyer or downsizer looking to enter a desirable neighbourhood without paying for excess interior square footage they may not need. It's also a candidate for a future renovation or expansion (subject to permits), given the generous lot. A less obvious perspective is that, while the living area is below average, its assessed value is above average citywide, suggesting the market strongly rewards this combination of location and lot size.
Frequently Asked Questions
1. Is the house itself in good condition?
The listing confirms a renovated basement, which is a positive sign of updates. As a 1952 build, prospective buyers should budget for a thorough inspection to assess the condition of major systems like the roof, plumbing, and electrical, which may be original or nearing the end of their lifespan.
2. How does the lot size compare to nearby homes?
The 5,240 sqft lot is a standout feature. It is larger than the average lot on Cordova Street (top 12%) and provides more outdoor space than many properties in the Central River Heights area.
3. What is the neighbourhood like?
Central River Heights is a well-established, residential neighbourhood known for its tree-lined streets, community feel, and proximity to amenities like parks, schools, and shopping. It's a consistently desirable area in Winnipeg.
4. Why is the living area smaller than average?
At 1,014 sqft, the above-ground living space is compact. This is characteristic of many post-war one-storey homes and reflects a different era of home design. The renovated basement helps offset this by providing additional finished space.
5. How does the assessed value relate to the expected sale price?
The assessed value of $440,000 is for municipal tax purposes. The sale price will be determined by the current market. For reference, a very similar home on this street sold for $472,000 in mid-2021, but market conditions have likely shifted since then.