Property Overview: 722 Cathedral Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on Cathedral Avenue in the Inkster-Faraday neighbourhood presents a practical and updated living space. Its key characteristics include 1,168 sqft of living area, a renovated basement, a detached garage, and a 4,290 sqft lot. Built in 1946, it is notably newer than many homes in its immediate area.
The appeal lies in its balance of updates and established neighbourhood character. The renovated basement adds functional living space, a valuable asset in a home of this size. From a data perspective, this property stands out within its own neighbourhood—it ranks above average in Inkster-Faraday for living area, assessed value, year built, and lot size. This suggests it offers stronger fundamentals than many nearby homes. However, its city-wide rankings are more modest, indicating it represents a solid, mid-range value within the broader Winnipeg market.
This home would suit first-time buyers or downsizers looking for a move-in-ready property with modernized essentials in a stable, no-frills neighbourhood. It’s also a sensible choice for value-oriented buyers who prioritize a home that outperforms its immediate local peers on key metrics like space and condition.
Frequently Asked Questions
1. How does this home compare to others on the street and in the area?
The data shows this home is consistently above average for the Inkster-Faraday neighbourhood, particularly in year built and assessed value. On its own street, Cathedral Avenue, it is around average for size and value, but is a newer construction than most.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the listing agent to understand the finish quality, ceiling height, and whether it includes a legal secondary suite or additional bedrooms.
3. The assessed value seems low. What does this mean?
The assessed value of $24,200 is for municipal tax purposes and is not the market value or listing price. It is used to calculate property taxes. The home's market value is determined by recent sales of comparable properties.
4. Can I get the exact historical sale price?
Yes, but not automatically through the public listing. The site provides an estimated sold price range from July 2019 ($21.5k - $24.5k). To obtain the exact sale price from title records, you must request it directly from the provided service, which manually emails the information.
5. What are the less obvious considerations for a home like this?
Consider that while the home is newer than many in the area, it is still 80 years old. Inquiries should focus on the age and condition of major systems (roof, wiring, plumbing) beyond the basement renovation. Also, its strong rankings within the neighbourhood suggest it may hold its value well locally, even if city-wide comparisons are average.