Property Overview: 343 Cordova Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home presents a compelling blend of space, established value, and location. Built in 1947, it is a classic North River Heights property that stands out primarily for its generous living area of 2,252 sq ft, which places it in the top 6-10% compared to homes on its street, in the neighbourhood, and across Winnipeg. This above-average interior space is paired with a significantly above-average assessed value of $608,000, indicating its perceived worth and solid standing in the market.
The appeal lies in securing a spacious, well-valued home in a desirable, mature neighbourhood. While the lot size is more compact than many in the area, this often translates to less yard maintenance—a potential plus for buyers seeking space indoors rather than outdoors. Its sale in mid-2022 for an estimated $800k-$850k further underscores its high-market positioning.
This property would best suit buyers who prioritize move-in-ready space in a prime location over a large yard. It’s ideal for growing families or professionals needing ample room who appreciate the character and stability of an established neighbourhood like North River Heights. It’s less suited for those seeking a vast garden or a brand-new construction project.
Frequently Asked Questions
1. How does the lot size impact this property?
While the land area is smaller than many neighbouring lots, this typically means lower maintenance. The value is clearly concentrated in the home's substantial living space and location rather than expansive outdoor grounds.
2. The assessed value is $608k, but it sold for much higher in 2022. Why?
Assessed value is for municipal tax purposes and often lags behind the current market. The 2022 sale price reflects what a buyer was willing to pay at the peak of that market cycle, highlighting the property's high desirability.
3. What does the "Top 6%" ranking for living area actually mean?
It means this home is larger than approximately 94% of comparable homes across Winnipeg. This is its most standout feature, offering rare interior square footage for the city.
4. Is a 1947 home a concern for maintenance?
The year built is typical for North River Heights. The above-average assessed and recent sale values suggest the home has been well-maintained or updated. A thorough inspection would be essential to understand the condition of major systems like roof, plumbing, and wiring.
5. How stable is the value in this area?
The data shows that for both assessed value and recent sale price, this home consistently ranks in the top tiers (top 2-13%) across all comparison levels. This suggests a history of strong value retention in its immediate area and the broader neighbourhood.