Property Overview
This one-storey home at 685 Cordova Street in Winnipeg's Central River Heights presents a specific and compelling value proposition. Its key appeal lies in the combination of a desirable, established neighbourhood and a large, 5,231 sqft lot that offers significant potential. The home itself, built in 1953, is notably newer than many on its street and in the immediate area. While the 1,103 sqft living space is modest and the assessed value is comparatively low, the property includes a renovated basement and a detached garage. The lot size is a standout feature, providing ample outdoor space and future possibilities in a central location.
This property would suit a practical buyer looking to enter the River Heights area, prioritizing land size and location over a large existing footprint. It’s ideal for someone comfortable with a home that may require updates or who sees value in the potential to expand or redevelop the existing structure over time. It also appeals to those seeking a lower property tax base relative to the neighbourhood, thanks to its current assessment.
Frequently Asked Questions
Q: The living area seems small. Is the house too cramped?
A: At just over 1,100 sqft, the main floor living space is compact. However, the renovated basement effectively adds usable square footage, and the very large lot provides ample room for decks, gardens, or future additions, shifting the living dynamic indoors-outdoors.
Q: Why is the assessed value so much lower than the city-wide average?
A: The assessed value reflects the property's current state and modest building size relative to its land value. In sought-after neighbourhoods like River Heights, a lower assessment on a sizable lot can indicate a property ripe for improvement, which is often attractive to buyers.
Q: The home is older. Should I be concerned about major repairs?
A: While built in 1953, it's actually newer than most homes on its street. The renovated basement is a positive sign of updates. A thorough inspection is always recommended to understand the condition of core systems like plumbing, electrical, and the roof.
Q: What is the real benefit of such a large lot here?
A: Beyond private outdoor space, a lot of this size in a central neighbourhood is a long-term asset. It offers flexibility for landscaping, recreation, parking, or potential future development (subject to zoning), which is rare to find at this price point in the area.
Q: How does the detached garage impact the property's use?
A: A detached garage provides secure parking and valuable storage or workshop space. It also creates a distinct separation between vehicle storage and living areas, and its placement on the large lot offers flexibility for future landscaping or driveway designs.