576 Cathedral Avenue

Property Overview: 576 Cathedral Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home on Cathedral Avenue in the Inkster-Faraday neighbourhood presents a practical and straightforward opportunity. Built in 1948, it is notably newer than many homes in the immediate area, potentially suggesting fewer concerns with outdated infrastructure common in century-old properties. With 900 sqft of living space and a renovated basement, it offers compact but functional living. The detached garage adds utility for storage or vehicle protection.

The primary appeal lies in its position as an affordable entry point into the Winnipeg market. The assessed value is modest, especially when viewed citywide, indicating lower property taxes—a significant ongoing cost saving. The lot, while smaller than average for the street, is fairly typical for the neighbourhood, making for manageable upkeep. This property would suit first-time buyers, investors looking for a rental property with a stable baseline, or downsizers seeking a low-maintenance home without the premium of a newer build. A less obvious perspective is its potential for someone who values a "blank slate"; its average metrics across the board mean it isn't paying a premium for standout features, allowing a buyer to invest incrementally in personalized updates.

Section 2: Frequently Asked Questions

1. How does the home's size compare to the area?
At 900 sqft, the living area is below the city average but is quite typical for the Inkster-Faraday neighbourhood, where comparable homes average about 1,025 sqft. It represents a compact, efficient layout.

2. What does the assessed value indicate?
The assessed value of $20,200 is around the average for both the street and the neighbourhood. Citywide, this is a very low assessment, which directly correlates to lower annual property tax bills compared to most of Winnipeg.

3. Is the lot size a disadvantage?
The lot is smaller than others on Cathedral Avenue but is near the neighbourhood average. This means less yard maintenance, which can be a benefit for those not seeking extensive outdoor space.

4. The home was sold in 2016. What was the price?
The listed sold price range for June 2016 is $14,500 - $17,500. For the exact sale price, you can request the information via email from the listing source.

5. What is the significance of the 1948 build year?
In a neighbourhood where many homes were built around 1930, a 1948 construction date is relatively newer. This can sometimes imply updates to building materials and standards, though a full inspection is always recommended to confirm the condition.