728 Cathedral Avenue

Property Overview: 728 Cathedral Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in Inkster-Faraday is a practical property that stands out for its value within its immediate area. Built in 1945, it offers 1,138 sqft of living space and sits on a 5,040 sqft lot. The home features a renovated basement and a detached garage.

Its primary appeal lies in its strong positioning within the local neighbourhood context. While its size and age are average city-wide, it ranks highly within Inkster-Faraday itself—particularly for its assessed value (in the top 5% of the area) and land area (top 11%). This suggests it is a well-regarded property on its street and in its community compared to direct neighbours. The renovated basement adds modern, functional space.

This home would suit a value-conscious buyer looking for a solid entry into a mature neighbourhood, or an investor seeking a property with proven stability and appeal in its local market. It’s for someone who prioritizes community standing over city-wide comparisons, appreciating that a home's value is often most relevant to its immediate surroundings.

Section 2: Frequently Asked Questions

1. How does this home’s value compare locally?
The assessed value of $28,400 places it in the elite top 5% for the Inkster-Faraday neighbourhood, meaning it is valued significantly higher than most comparable homes in the immediate area.

2. What is the condition of the basement?
The listing specifies the basement has been renovated, indicating it is finished and updated for functional use.

3. Is the lot size typical?
At just over 5,000 sqft, the lot is above average for Inkster-Faraday (top 11%), offering more outdoor space than many neighbouring properties.

4. How recent are the sales, and what do they indicate?
The property sold twice in 2023. The sale prices show a notable increase from April to September of that year, reflecting a quick appreciation in a short timeframe, which may indicate strong market interest or updates made to the property.

5. What is the neighbourhood like for similar homes?
On Cathedral Avenue, this home’s living area is close to the street average. However, its assessed value is well above the street average, suggesting it may have features, condition, or desirability that set it apart from others of similar size on the same block.