Property Overview: 640 Cathedral Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1942, situated on a standard city lot in the Inkster-Faraday neighbourhood. Its key characteristic is its affordability, reflected in a low assessed value that places it well below the Winnipeg citywide average. The living space is compact at 760 sq ft, and the home features a basement (not renovated) and a detached garage.
The primary appeal lies in its position as a genuine entry-point into homeownership or as a potential investment property. For its immediate area, the lot size is above average, offering valuable outdoor space relative to neighbouring plots. It suits first-time buyers with a limited budget who are willing to take on a project, or investors looking for a low-cost rental property with a manageable footprint. A less obvious perspective is that its smaller size and lower taxes could appeal to someone seeking to downsize and simplify within the city, though the condition of the basement would be a key consideration.
Frequently Asked Questions
1. What is the actual selling price?
The listed sold price is a public data range. For the precise historical sale price, you can request it via email from SaveOnHouse, which provides the exact figure manually.
2. How does this home compare to others nearby?
Within the Inkster-Faraday area, the home’s assessed value is around the neighbourhood average, but it sits on a larger-than-average lot. Its living area is smaller than most comparable homes in the area.
3. Is the basement finished?
No, the basement is noted as "not renovated." Buyers should budget for potential upgrades and consider it unfinished space.
4. What are the typical property taxes?
While not stated, taxes are based on the assessed value. With an assessed value significantly below the city average, the property tax burden should be relatively low.
5. What is the condition of a home built in 1942?
Built 84 years ago, the home’s age is around average for its street and neighbourhood. A thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation, which are common considerations for houses of this vintage.