Property Overview: 574 Cathedral Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Cathedral Avenue in Inkster-Faraday is a practical entry point into Winnipeg’s housing market. Built in 1929, it offers 1,246 sqft of living space, which is competitively sized for both the street and the neighbourhood. The home includes a basement and a detached garage.
Its primary appeal lies in its position as a functional, no-frills property. The assessed value is notably below average for the city, suggesting a potentially lower cost of entry and corresponding property taxes. This isn't a large or recently renovated showpiece; instead, it represents a straightforward opportunity. The lot, while smaller than many in the city, is average for the immediate area, offering manageable outdoor space.
This property would suit first-time buyers, practical investors, or those seeking a modest, lower-maintenance footprint. It’s for someone who views a home as a solid foundation rather than a finished product, and who is comfortable with a vintage build that may require updates over time. A less obvious perspective is that its very modest assessment, compared to nearby recent sale prices, could indicate room for value growth through basic improvements, making it a candidate for a long-term, equity-building hold.
Section 2: Frequently Asked Questions
1. What is the actual recent sale price?
The data indicates a sale occurred in January 2025, with a public price range reported. For the exact sale price, you can request it via email from the listing source, as this information is verified manually.
2. What does "below average" assessed value mean for me?
A lower assessed value typically translates to lower municipal property taxes, which is a direct annual savings. It’s important to distinguish this from market value, which is determined by what buyers are willing to pay.
3. Is the basement finished?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate an unfinished space suitable for utilities and storage, with the potential to be finished later.
4. How does the lot size impact the property?
At approximately 3,150 sqft, the lot is smaller than the Winnipeg average but typical for Inkster-Faraday. This means less yard maintenance but also less private outdoor space, which is a key trade-off to consider.
5. What should I know about a home built in 1929?
Homes of this era were built with durable materials but will likely have older mechanical systems (like plumbing and wiring), windows, and insulation. A thorough inspection is essential to understand the condition and plan for any necessary updates or repairs.