Property Summary: 631 Cathedral Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, offering a straightforward and affordable entry point into Winnipeg’s Inkster-Faraday neighbourhood. Its key characteristics include a 720 sqft living area, a 3,350 sqft lot, and a detached garage. The basement exists but is noted as not renovated.
The primary appeal lies in its low financial barrier to entry, reflected in its well-below-average assessed value. It represents a classic "starter home" or a practical investment property. The lot size is fairly typical for the immediate area, offering manageable outdoor space without excessive upkeep.
This property would best suit a first-time buyer comfortable with a smaller footprint, or an investor looking for a rental property with a low upfront cost. It’s a home for those who value practicality and location over size or modern finishes. A less obvious perspective is that its age and modest assessment could appeal to someone seeking a lower property tax burden or a simple canvas for a gradual, DIY renovation tailored to personal taste rather than market trends.
Section 2: Frequently Asked Questions
1. What is the actual likely selling price?
While the assessed value is $17,800k, historical data shows a sale in the $14.5k–$17.5k range in 2016. The true market price will depend on current condition and market dynamics, but it consistently positions as a very low-cost option in the city.
2. Is the house livable in its current state?
The listing notes the basement is "not renovated," which suggests the home may be functional but is likely dated or in need of some updates. A thorough inspection would be essential to understand the condition of major systems (roof, wiring, plumbing) common in a house of this age.
3. What are the advantages of such a small house?
The advantages are primarily financial and practical: lower purchase price, potentially lower utility costs, less space to maintain and furnish, and a manageable yard. It promotes a simpler, more efficient use of space.
4. How does this property compare to others nearby?
The data shows that for living space, it's smaller than most on its street and in the neighbourhood. However, its assessed value is around the neighbourhood average, meaning you’re paying less per square foot than for larger homes nearby, which is a key trade-off.
5. What should I consider about the 1912 build date?
A home from 1912 has character but requires diligent evaluation. Consider the potential for outdated materials (like knob-and-tube wiring or original plumbing), the need for insulation upgrades, and the historical maintenance record. Its longevity can be a testament to solid initial construction, but ongoing upkeep is crucial.