Property Overview: 589 Cambridge Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 589 Cambridge Street in North River Heights is a character property built in 1928, offering a blend of established neighbourhood charm and relative value. With 1,022 sqft of living space, it is a more compact home compared to many in the wider area, suggesting a manageable layout for smaller households. Its assessed value of $380k positions it as a more accessible entry point into the desirable North River Heights community, where average values are significantly higher.
The appeal lies in its generous 5,408 sqft lot, which is above average for North River Heights. This presents a notable opportunity for outdoor space, gardens, or future expansion relative to many neighbouring properties. The home’s recent sale history indicates strong market interest and value appreciation.
This property would best suit first-time buyers or downsizers seeking a foothold in a prime neighbourhood without the premium price tag of a larger house. It’s also a sensible match for value-oriented buyers or investors who recognize the inherent value of the lot size and location, and who are comfortable with a home that may require updates reflective of its age.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
The home’s assessed value is below the average for North River Heights, but around the average for its specific street and the city overall. This suggests you are paying less for the location than you would for a typical home in this area, with the lot size being a compensating premium feature.
2. Is the living space sufficient for a family?
At 1,022 sqft, the living area is below average for the neighbourhood. It would likely suit a small family, a couple, or an individual comfortably. Buyers should prioritize efficient use of space and consider if the larger lot could allow for an addition if more room is needed in the future.
3. What should I consider with a home built in 1928?
While full of character, a home of this age will likely have older infrastructure. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation. Budgeting for maintenance and thoughtful updates is a key part of ownership.
4. Why is the lot size highlighted as a key feature?
In a mature neighbourhood like North River Heights, large lots are increasingly rare. This property’s lot is larger than most in the immediate area, offering more privacy, green space, and potential for landscaping, gardening, or even future development (subject to zoning).
5. How reliable are the provided sold price ranges?
The sold price data is compiled from public sources, not the MLS. The ranges are reasonably reliable for market trend analysis, but for exact historical sale figures to inform your offer, you should request a manual lookup from the site, which provides verified data via email.