Property Overview: 685 Cambridge Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1949 on a standard city lot in Central River Heights. Its key features include a renovated basement and a detached garage. The data reveals a property that is modest in scale, with a living area of 900 sq ft that is notably below average for both the street and the neighborhood. However, it sits on a nearly 5,000 sq ft lot, which is closer to the local norm.
The primary appeal lies in its location within a sought-after neighborhood and the potential inherent in its proportions. The lot size is a solid canvas for gardening or expansion, while the renovated basement adds immediate functional space. The home’s below-average assessed value suggests it may be an accessible entry point into River Heights. It would suit a first-time buyer, an investor, or a downsizer looking for a lower-maintenance footprint in a prime area without the premium price of a larger house. It’s a property where value is derived more from location and land than from the size of the existing structure.
Frequently Asked Questions
1. Is the house particularly small?
Yes. At 900 sq ft of living area, it is significantly smaller than most homes on Cambridge Street and in Central River Heights overall. The layout and efficient use of space, including the renovated basement, will be important factors.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or finish. This would be a key point for your inspector or a follow-up question with the seller to understand the quality and permitted status of the work.
3. How does the assessed value relate to the likely sale price?
The assessed value for municipal taxes is $30,300k, but it sold for $28,500k in 2022. Both figures are well below area averages, indicating the property is valued modestly. The sale price will be determined by current market conditions, but history suggests it may trade below typical neighborhood prices.
4. Is the detached garage a standard size?
The listing notes a detached garage but does not provide dimensions. Given the home's smaller size, verifying the garage's condition and size for vehicle storage or workshop use would be advisable.
5. What are the implications of the lot size?
At 4,918 sq ft, the lot is a typical city size. It is not oversized, but it is proportionally larger relative to the house itself. This could allow for a generous backyard, garden space, or future additions, subject to local zoning bylaws.