Property Overview: 237 Cambie Road, Winnipeg
Key Characteristics & Appeal
This home at 237 Cambie Road in the Meadows neighbourhood is a practical, entry-level property. Built in 1978, it features 766 square feet of living space on a 3,495 square foot lot. The data consistently shows its defining characteristic: it is a smaller, more modestly valued home compared to most in its immediate area, the wider Meadows neighbourhood, and across Winnipeg. Its assessed value is notably below local averages.
Its primary appeal lies in affordability and opportunity. With a historically lower price point and assessed value, it presents a accessible entry into homeownership. The lot size, while below the area average, is manageable and typical for the street itself. This property would suit first-time buyers, investors looking for a rental property, or downsizers seeking a low-maintenance footprint. A thoughtful perspective is that its "below average" metrics could represent a value proposition in a well-established neighbourhood, offering a chance to build equity without a premium entry cost. Its older vintage also suggests potential for updates that could add value.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific characteristics, like its smaller living area and lot size compared to the broader Winnipeg market, which includes many larger, newer, or more renovated homes.
2. What does the "below average" ranking for living area mean for daily life?
It confirms the home is compact. This means efficient use of space is key, but it also translates to lower utility costs and less maintenance, which can be a benefit for the right buyer.
3. How does the sold price history relate to the current assessed value?
The home sold in the $250k-$300k range in 2021. The current assessed value for taxation purposes ($28,600) is not a market price but is used to calculate property taxes. Market value is determined by current sale prices of similar homes.
4. Is the older year of build (1978) a concern?
It places the home in the middle of the pack for its street. While it may require attention to aging components like the roof or windows, it also means the home is situated in a long-established, stable neighbourhood.
5. Can I see how this property compares visually to its neighbours?
Yes. You can use the provided link to open a neighbourhood map analysis, which visually compares this home to nearby properties based on year built, living area, and lot size.