Property Overview & Appeal
This two-storey home on Cordova Street in Central River Heights is a practical and well-positioned property. Built in 1951, its key characteristics include 1,360 sqft of living space and a recently renovated basement. It sits on a 4,189 sqft lot, which is notably smaller than most in this desirable neighbourhood, but contributes to a lower-maintenance yard. The home lacks a garage.
Its primary appeal lies in its location within a sought-after, established area, combined with the value offered by a modernized basement. The lot size, while below average for the street, presents an opportunity for buyers who prefer less outdoor upkeep. The assessed value is strong citywide, suggesting a solid investment within Winnipeg.
This property would suit first-time buyers or downsizers seeking entry into River Heights without the premium for a large lot. It’s also a match for value-focused buyers who prioritize interior updates and location over expansive outdoor space or a garage.
Frequently Asked Questions
Is the small lot size a major drawback?
While the land area is smaller than most in Central River Heights, it means less maintenance and lower landscaping costs. For buyers who value location and interior space over a large garden, this can be a practical trade-off.
What does the “renovated basement” include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finishes, permits, and whether it includes added living space, such as a bedroom or family room.
How does the lack of a garage affect parking and storage?
The property has no garage. Buyers should assess on-street parking availability and consider the basement and home layout for alternative storage solutions.
The assessed value seems low compared to recent sale prices in the area. Why?
The home’s assessed value for municipal taxes is $46.9k, but it sold for $43.3k in early 2023. It’s important to note that assessed value is for taxation and doesn't always reflect current market value. Recent sales of comparable homes in the neighbourhood are a better gauge.
How does this home compare to the property next door at 445 Cordova?
The directly neighbouring home at 445 Cordova is slightly larger (1,440 sqft), older (1945), and has a lower assessed value ($41.9k). This side-by-side comparison highlights how specific updates and condition can influence value on the same street.