Property Overview: 235 Cambie Road, Winnipeg
Key Characteristics & Appeal
This home at 235 Cambie Road in the Meadows neighbourhood presents a distinct value profile. Built in 1978, its key characteristic is a noticeable disconnect between its physical attributes and its official assessed value. The 1,152 sqft living area is notably above average for Cambie Road itself and competitive within the wider area, suggesting a comfortably sized interior. However, with an assessed value of $280,000, it sits well below the average for both the street and the city. This combination creates its primary appeal: a relatively spacious home in a mature neighbourhood with a property tax base that is likely advantageous.
The lot size of 3,504 sqft is modest compared to broader averages, which may appeal to buyers seeking lower exterior maintenance. Its sale history indicates steady value retention within the $200k-$250k range over the past decade.
This property would best suit pragmatic buyers—first-time homeowners, downsizers, or investors—who prioritize interior space and operating cost efficiency (via lower property taxes) over a large yard or a new-build home. It’s a practical choice for someone comfortable with a home of this vintage and who sees value in a below-average assessment in a stable area.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
While the exact methodology is not disclosed here, assessed value is not the same as market value. It is an estimate for taxation purposes. This assessment could reflect the home’s age, specific condition, or features not captured in square footage, resulting in a potentially lower annual property tax burden.
2. How does the lot size impact potential for expansion or renovation?
At 3,504 sqft, the lot is smaller than many in Winnipeg. Any significant expansion, like a large addition or garage, would need careful planning to ensure compliance with zoning bylaws regarding setbacks and lot coverage. It may be better suited for interior renovations.
3. What does the sale history tell us about the home’s market value?
The home sold in the $200k-$250k range in both 2016 and 2020. This consistency suggests a stable market perception of its value over time, which can be a reassuring data point for buyers concerned about volatility.
4. The home is older—what should I consider?
A 1978-built home will likely have original or aging core components, such as the roof, windows, furnace, and electrical panel. A thorough inspection is essential to budget for potential updates, though the era may also mean simpler, more robust construction in some aspects.
5. How do the rankings (e.g., "Top 25%") help me understand this property?
These rankings compare the home against specific groups. For example, living area being in the "Top 25%" on its street means it is larger than 75% of its immediate neighbours, offering more space than most nearby. Conversely, a "Top 90%" ranking for assessed value means it is assessed higher than only 10% of peers, confirming its low assessment position.