Property Overview
This one-storey home on Cathedral Avenue in Winnipeg's Inkster-Faraday neighbourhood presents a straightforward, entry-level opportunity. Built in 1912, its 770 sqft of living space is modest, ranking below average for size both on its street and city-wide. The property includes a detached garage and a 3,350 sqft lot. Key data points show its assessed value is notably low compared to the city average, but is more in line with the local area. Its last recorded sale was between 2013.50k and 16.50k in 2017.
Section 1: Key Characteristics & Appeal
The primary appeal of 627 Cathedral Avenue lies in its affordability and simplicity. It is a home with minimal pretension, suited for a buyer seeking a basic footprint with lower carrying costs. Its assessed value is significantly below the Winnipeg average, indicating a potentially accessible price point for first-time buyers, investors, or those looking to downsize and free up capital.
The house would suit a practical buyer—perhaps a hands-on individual or investor comfortable with a property that has a functional, unrenovated basement and may require updates. Its smaller scale makes it manageable, while the detached garage and decent-sized lot offer utility and outdoor space uncommon in many similarly priced condo alternatives. A less obvious perspective is its potential as a "placeholder" property: it allows entry into the market with very low property taxes, providing time and financial breathing room to plan for a future renovation or eventual move without the pressure of a large mortgage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for taxation purposes and is influenced heavily by the home's modest size, age, and the general property values in the Inkster-Faraday area, which are traditionally lower than the Winnipeg average.
2. What does "below average" for living area mean in practical terms?
With 770 sqft, the home's living space is smaller than most in Winnipeg. This typically means a compact layout with fewer or smaller rooms, requiring efficient use of space.
3. Is the unrenovated basement a major concern?
It indicates the basement is in functional, original condition. It's not a finished living space but could offer storage or utility area. Buyers should budget for potential updates to insulation, moisture control, or mechanical systems common in century-old homes.
4. How reliable are the provided sold price ranges?
The ranges are based on public data. For precise historical sale figures, you must request the exact sold price directly via the provided email service, as this information is manually verified.
5. The home is over 110 years old. What should I be most aware of?
While the structure has proven its durability, priority checks should include the foundation, roof, wiring, and plumbing. Homes of this age often require ongoing maintenance and modernization of core systems.