Property Overview: 15 Cedar Place, Norwood West, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 15 Cedar Place is a classic, mid-century bungalow built in 1951, situated on a generous, roughly 5,500 sqft lot in Winnipeg's Norwood West neighborhood. Its key appeal lies in its established setting and lot size, offering a balance of space and location.
The home's living area (1,057 sqft) is modest, ranking below the average for its immediate street and neighborhood, suggesting a cozy, efficient layout rather than expansive square footage. However, its assessed value of $387k is competitive, sitting around the average for the wider city and neighborhood, which indicates the value is likely anchored in the desirable lot and location rather than the size of the home itself. A thoughtful perspective is that this property represents an opportunity for buyers who prioritize land and location over a large existing footprint, as it could be well-suited for future expansion or landscaping projects.
This property would best suit first-time buyers, downsizers, or value-oriented investors looking for an entry into a mature neighborhood. Its appeal is practical and grounded, ideal for someone comfortable with a home that may require updates but offers a solid foundation and a prime asset—the land—in a central community.
Section 2: Frequently Asked Questions
1. How does the home's size compare to others nearby?
At 1,057 sqft, the living area is below the average for both Cedar Place and the broader Norwood West area. This indicates a more compact layout compared to many neighbors, which can mean lower utility costs and less maintenance.
2. Is the assessed value of $387k typical for the area?
Yes, it's quite typical. While it's on the lower end for its specific street, it aligns closely with the average assessed value for both Norwood West and the City of Winnipeg as a whole, suggesting a fair market valuation.
3. What does the "Elite" ranking for Year Built mean?
The home, built in 1951, is among the newest 5% of homes on its street and in Norwood West. This "Elite" ranking is relative to an older housing stock; it means the structure is newer than most in the immediate vicinity, though it is still a 75-year-old character home.
4. What can the 2019 sale price range tell me?
The home sold for between $300k and $350k in August 2019. This historical data provides a benchmark, showing significant appreciation in assessed value since that last sale, reflecting broader market trends.
5. How can I find out the exact past sale prices?
The displayed sale prices are estimates from public records. To obtain fully verified and exact sale figures, you must request a manual lookup via email through the SaveOnHouse website, as they do not have access to MLS sales data.