Property Overview
111 Cambie Road is a 908 sqft bungalow built in 1978, situated on a 3,000 sqft lot in Winnipeg’s Meadows neighbourhood. With an assessed value of $280,000, it presents a specific value proposition defined by its context.
Key Characteristics & Appeal
This home’s primary appeal lies in its affordability and efficiency within a mature, established neighbourhood. At 908 sqft, the living space is modest but functional, ranking around average for its immediate street. The lot size is compact, which translates to lower maintenance—a significant consideration for those looking to minimize yard work. The assessed value is notably lower than many area comparables, suggesting a potentially accessible entry point into the market.
The property would suit first-time buyers or downsizers seeking a manageable, no-fuss home in a quiet area. Its value is more in the land and location than in the size or newness of the structure. A thoughtful perspective is that this home represents a practical, grounded choice in a market where larger, newer builds command a premium. It’s for a buyer who prioritizes financial sensibility and simplicity over spaciousness or modern features.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed values are based on a municipal evaluation, not market price. This lower assessment primarily reflects the home’s smaller size, older age, and compact lot relative to broader city averages, which include many larger, newer properties.
2. Is the smaller lot size a disadvantage?
It depends on your priorities. A 3,000 sqft lot requires less upkeep and lower maintenance costs, which can be a significant advantage for those seeking a low-maintenance lifestyle. However, it offers less private outdoor space and limited potential for expansions like large decks or additions.
3. What does the "below average" ranking for Year Built in the Meadows area mean?
Most homes in the Meadows neighbourhood were built later, averaging around 1990. This 1978 build is older than most in the immediate area, which may indicate older building materials or systems that could require attention, but also suggests a more established streetscape.
4. How useful are the rankings for "Same Street" and "Same Area"?
Very useful. They show the home’s standing in its immediate context. For instance, while the living area is below average for the wider city, it’s around average for Cambie Road itself, indicating the street consists of similarly scaled homes, which is good for value consistency.
5. There’s no sales history shown. How can I understand its market value?
The listed assessed value is a starting point, but market value is determined by current buyer demand. Reviewing the recent sale prices of the nearby "for reference" properties (like 168 and 20 Cambie Road) provides a clearer picture of what similar homes in the exact location have actually sold for.