Property Overview: 720 Cathedral Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1946, offers a practical footprint of 1,168 sqft on a standard city lot. Its key features include a functional, unrenovated basement and a detached garage. The appeal lies in its straightforward, no-frills nature and its position as a statistically average-to-above-average property within its immediate Inkster-Faraday neighbourhood. Compared to nearby homes, it offers more living space and a larger lot than many in the area, while its assessed value is modest relative to the wider city.
This home would suit a pragmatic first-time buyer, an investor looking for a rental property, or a hands-on owner comfortable with a home that may require updates over time. It represents an entry point into a mature neighbourhood without the premium price of a fully modernized or larger property. A less obvious perspective is that its "average" metrics within the neighbourhood could signal stability and predictability, potentially insulating it from wild value swings compared to more outlier properties.
Frequently Asked Questions
1. What is the exact recent sold price?
The public data shows a sold price range between $215,000 and $245,000 in May 2017. For the precise figure, you can request it directly via email from the listing source.
2. How does this home compare to others in the area?
Within the Inkster-Faraday neighbourhood, this home ranks above average for living space, lot size, and year built. This means you get a slightly newer and more spacious property compared to many nearby options.
3. What does "basement, not renovated" imply?
It indicates the basement is functional and usable but has not been modernized or finished to current standards. It presents potential for future improvement or offers ample utilitarian storage and mechanical space as-is.
4. Is the assessed value a good indicator of the selling price?
Not directly. The assessed value for municipal taxes is $22,300, which is significantly lower than recent sale prices in the area. Market value is determined by current buyer demand, recent comparable sales, and the home's condition.
5. What are the less obvious considerations with a home from this era?
While built later than many in the area (1946), it still shares common traits of older Winnipeg homes. Buyers should budget for potential updates to systems like wiring or plumbing and consider the energy efficiency of original windows and insulation. The detached garage is a period-typical feature, offering flexibility but requiring a walk outdoors in winter.