Property Overview: 402 Cork Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 402 Cork Avenue in Margaret Park is a practical, no-frills property that represents a straightforward entry point into the Winnipeg market. Its key characteristic is its modest scale, with 1,016 sqft of living space on a roughly 5,000 sqft lot, built in 1965. The appeal lies primarily in its value proposition. The assessed value is notably low, ranking at the very bottom on its own street but aligning more closely with the averages for the wider Margaret Park neighborhood. This suggests it is priced accessibly within its immediate community.
It would suit first-time buyers or investors seeking a functional home without premium pricing, particularly those who prioritize lot size over interior square footage. A thoughtful perspective is that this property may offer "value through simplicity"—its below-average assessments and rankings could mean lower property taxes, and the established neighborhood likely offers stability without the premium of a trendier area. It’s a home for someone comfortable with a property that is average or below in most metrics, seeing it as a solid foundation rather than a standout showpiece.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes many newer, larger, or more premium neighbourhood homes. This property’s assessment is more in line with the typical, modestly-sized homes in the established Margaret Park area, reflecting its local market context.
2. How does the living area compare to nearby homes?
At 1,016 sqft, the living area is below the average for both its immediate street and the city overall, but is much closer to the average for the broader Margaret Park neighborhood. This indicates a cozier, more efficient floor plan typical of many homes in this specific community.
3. What can the sold price history tell me?
The home sold between CA$200k–250k in 2020. This historical range provides a benchmark, but for the exact sale price to inform your offer, you must request it directly via the provided email service.
4. Is the lot size a positive feature?
The land area of 4,980 sqft is around the average for both the street and Margaret Park. While not exceptionally large, it provides a decent outdoor space for a home of this size and is a standard lot for the area.
5. Who would this property not suit?
It likely wouldn’t suit buyers looking for a move-in-ready home with modern, spacious interiors or those seeking a property that stands above neighborhood averages in size and assessed value. It’s a pragmatic choice, not a premium one.