327 Cambridge Street

Property Overview: 327 Cambridge Street, North River Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This home is defined by its substantial scale and premium positioning within the market. Its most compelling features are its generous 2,258 sqft of living space and its large 7,210 sqft lot, both of which rank in the top tiers for the neighbourhood and city. The assessed value of $767k firmly places it among the elite properties in the area, a status underscored by its previous sale price between $1.05M and $1.1M in mid-2022.

The appeal lies in the rare combination of a classic 1930s-era home with above-average interior space on a lot that offers significant outdoor potential. While the home’s age is notable, it is typical for the well-established North River Heights neighbourhood. This property is not just a home but a substantial asset in a sought-after location.

It would best suit buyers looking for a long-term family home with room to grow or renovate, who value established communities with mature landscapes. It’s also a strong match for value-conscious buyers who understand that premium lot size and living area in a prime neighbourhood often drive long-term appreciation more reliably than a newer build in a less central location.

Section 2: Frequently Asked Questions

1. How does the age of the home (built 1930) impact its value and appeal?
While older than many city-wide averages, the home’s age is consistent with the character of North River Heights. The premium sale price and high assessed value indicate the market places greater weight on lot size, living area, and location than on year built. However, prospective buyers should budget for maintenance or updates typical of a home of this vintage.

2. The assessed value is $767k, but it sold for over $1M in 2022. Why the difference?
Assessed value for property tax purposes often lags behind market value and is calculated using a different methodology. The recent sale price is a clearer indicator of its current market worth, showing it commands a significant premium.

3. What does the lot size offer that a smaller lot doesn’t?
At over 7,200 sqft, the lot is significantly larger than area averages. This provides ample space for gardening, recreation, potential additions (subject to zoning), and greater privacy—a rare commodity in central neighbourhoods.

4. Is the price driven mainly by the house or the land?
The data suggests it's both. The living area is in the top 10% for the area, and the lot is in the top 6%. This combination of a large house on a large lot in a desirable area creates a compounded premium, making it a standout property.

5. How does this property compare to others on Cambridge Street?
It ranks in the top 5% for value and top 8% for living area on its own street, indicating it is one of the larger and more valuable homes on the block. This suggests a well-above-average investment within an already above-average street.