Property Overview: 686 Cathedral Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Cathedral Avenue in the Inkster-Faraday neighbourhood is a practical, no-fuss property. Built in 1945, it offers 1,104 sqft of living space with a renovated basement and a detached garage, sitting on a standard city lot of just over 4,500 sqft.
Its primary appeal lies in its solid positioning within its immediate area. The data shows that for the Inkster-Faraday neighbourhood, this home ranks above average in assessed value, land size, and year built, meaning it represents a relatively newer and more valuable property compared to many of its local peers. This suggests a well-kept home in a stable context. However, its city-wide rankings are more modest, highlighting its value as an affordable entry point into the Winnipeg market rather than a premium city-wide offering.
This property would suit first-time buyers or practical investors looking for a straightforward, renovated home without major surprises. It’s for someone who values being above the neighbourhood average in key metrics and appreciates the character of a mature community like Inkster-Faraday. The detached garage and renovated basement add functional space, appealing to those who need a workshop, storage, or flexible living areas.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value of $24,100 is notably above the neighbourhood average, which often indicates the property is in better condition, has seen improvements, or is on a more desirable lot compared to others in Inkster-Faraday. It's important to note this is a municipal assessment for tax purposes, not a market valuation.
2. How does the living space compare to nearby homes?
At 1,104 sqft, the living area is very close to the average for both the street and the wider city. It’s a comfortably sized home for a small household, but not unusually large or small, making it a typical footprint for the area.
3. The home was built in 1945. What should I consider?
While 1945 is newer than many homes in this specific neighbourhood, it still means the core structure is 80 years old. A renovated basement is a positive, but a thorough inspection of major aging components (like roof, wiring, and plumbing) is essential, as with any character home.
4. What is the significance of the lot size?
The lot size of 4,547 sqft is above average for Inkster-Faraday, offering more outdoor space than many neighbouring properties. City-wide, it’s around average. This provides a good balance of yard space without the maintenance demands of a much larger lot.
5. How should I interpret the last sold price range (2023)?
The listed range of $16.5k–$19.5k from March 2023 is a historical data point. Given the current assessed value and market conditions, it is not a reliable indicator of today’s market value. It’s recommended to request the exact sold price from the provider and consult recent comparable sales for an accurate current valuation.