Property Summary: 715 Cambridge Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1949, sits on a 4,799 sqft lot in Central River Heights. Its key feature is a renovated basement, adding valuable finished space to the home's 900 sqft main living area. The property lacks a garage or pool.
The primary appeal lies in its location and lot size. For the neighbourhood, the lot is relatively spacious, offering more outdoor potential than many nearby properties. The home presents as a solid, no-frills opportunity. It would suit a first-time buyer, an investor, or a downsizer looking for a lower-maintenance footprint in a desirable, established area. The renovated basement adds immediate utility, making it a move-in-ready canvas for someone comfortable with a compact main floor. A thoughtful perspective is that, while the living area is modest, the below-average assessed value for the neighbourhood suggests a potentially accessible entry point into River Heights, a trade-off of interior space for location and lot that some buyers actively seek.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if considering rental income.
2. How does the sale history inform the current price?
The home sold for $24.6k in 2016 and $33.5k in early 2024. The recent sale at the current assessed value suggests a stable, market-based price in a short timeframe.
3. What are the implications of not having a garage?
Parking will be limited to on-street or a potential driveway. This is a common feature in the area but is a practical consideration for vehicle storage and winter conditions.
4. How does the property compare to others on the street?
The home is newer than most on its block (built 1949 vs. street avg. ~1946) but has less living space (900 sqft vs. street avg. ~1,332 sqft). Its lot size is also slightly below the street average.
5. What does the assessed value ranking mean?
The assessed value is around average citywide but below average for Central River Heights. This typically indicates you are paying less for the location than for many neighbourhood properties, which can be an advantage for value-conscious buyers.