Property Overview: 664 Cathedral Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1929, presents a practical opportunity in the Inkster-Faraday neighbourhood. With 1,052 sqft of living space and a 4,285 sqft lot, its size is very typical for the immediate area. The home features a basement, but it is noted as not being renovated, and there is no garage or pool.
The primary appeal lies in its position as a straightforward, no-frills property in a mature neighbourhood. The lot size is notably above average for Inkster-Faraday, offering good outdoor space relative to many local comparables. With an assessed value significantly below the Winnipeg city average, it represents an accessible entry point into the market. This home would suit a first-time buyer comfortable with a property that may require updates, or an investor looking for a pragmatic rental opportunity. Its average metrics for the street suggest it fits seamlessly into the area, neither standing out nor lagging behind, which can be appealing for those seeking a stable, established community feel.
Section 2: Frequently Asked Questions
1. What is the true condition of the basement?
The listing explicitly states the basement is "not renovated." Prospective buyers should budget for inspections to understand the state of the foundation, plumbing, and electrical systems, and to plan for any necessary moisture control or finishing work.
2. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is often different from market value. The last recorded sale was in 2016, so the current market price will be influenced by recent neighbourhood sales, condition, and market trends. The low assessment, however, suggests potentially lower property taxes.
3. What are the implications of not having a garage?
Buyers should consider the cost and feasibility of adding off-street parking or a storage shed. It's also wise to check local street parking regulations, especially during winter parking bans.
4. The home is nearly 100 years old. What should I be mindful of?
While the construction year is average for the area, key systems like the roof, wiring, plumbing, and windows may need upgrading or significant maintenance. A thorough inspection is essential to identify any outdated materials or necessary repairs.
5. The lot is larger than average for the neighbourhood. Is this an advantage?
Yes. The above-average lot size for Inkster-Faraday is a distinct asset. It provides more private outdoor space and potential for additions, gardening, or landscaping than many nearby properties, offering a degree of future flexibility.