Property Overview: 649 Cathedral Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Cathedral Avenue is a classic Winnipeg character home, built in 1931. With 1,145 sqft of living space and a renovated basement, it offers practical, comfortable living. The property sits on a 4,422 sqft lot, which is notably above average for the Inkster-Faraday neighbourhood, providing valuable outdoor space. A detached garage adds functional storage or workshop potential.
The primary appeal lies in its strong positioning within its immediate community. While its size and assessed value are average citywide, the home stands out locally: its assessed value ranks in the top 15% for the Inkster-Faraday area, suggesting it is a well-regarded property on its street. This points to a home that may offer more inherent value and stability within its established neighbourhood context than a broader city comparison might indicate. The recent sale in 2023 also suggests a modernized transaction history.
This property would suit a first-time homebuyer or a practical downsizer looking for a character home in a no-fuss, established neighbourhood. It’s ideal for someone who values a larger-than-average local lot and a sense of community steadiness over a brand-new build or a central city location.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to the area?
The home’s assessed value is in the top 15% for the Inkster-Faraday neighbourhood, meaning it is considered above average locally. This often indicates a well-maintained or desirable property relative to its immediate peers.
2. What is the significance of the lot size?
At 4,422 sqft, the lot is larger than the neighbourhood average. This provides more private outdoor space than many nearby properties, which is a valuable and less common feature in older communities.
3. What can recent sale prices tell me?
The home sold in August 2023 for an estimated $26.5k-$29.5k. This recent sale provides a clear, modern benchmark for its market value, showing active demand in the last few years.
4. Is the basement finished?
Yes, the listing specifies the basement is renovated, adding functional living or storage space to the home’s 1,145 sqft main footprint.
5. How old is this home, and what should I consider?
Built in 1931, the home is part of Winnipeg’s historic housing stock. Buyers should budget for potential maintenance consistent with a 95-year-old structure, while also appreciating the character and solid construction of that era.