Property Overview: 351 Cambridge Street, Winnipeg
Key Characteristics & Appeal
This home at 351 Cambridge Street in North River Heights presents a compelling mix of space, location, and value. Its primary appeal lies in its generous proportions, both in the home itself and the lot it sits on. With nearly 2,000 square feet of living area, the house offers significantly more interior space than most comparable homes on its street, in the neighborhood, and across Winnipeg. This is matched by a substantial 7,210 sqft lot, which is particularly notable in the desirable North River Heights area, ranking in the top 6% of the neighborhood for land size.
Built in 1928, the property is one of the older homes on the block, which suggests classic character but also implies that its condition and any updates will be key considerations for a buyer. The assessed value of $507k sits above average across all comparison levels, indicating official recognition of its substantial attributes.
This property would ideally suit buyers who prioritize indoor and outdoor space over a newer build. It’s a strong fit for a growing family seeking established community roots, or for someone looking for a canvas to renovate or expand a character home on a larger-than-average lot. The numbers suggest you are paying for tangible space and location rather than modern construction.
Frequently Asked Questions
1. How does the sold price from 2023 relate to the current assessed value?
The home sold for an estimated $550k-$600k in mid-2023. The current assessed value is $507k. Assessments for taxation purposes often lag behind market sale prices, and the 2023 sale likely reset the market benchmark for this specific property.
2. What are the implications of the home being built in 1928?
While offering classic charm and likely sturdy construction, a home of this age will require diligent attention to aging components. A thorough inspection is essential to understand the condition of the foundation, plumbing, electrical systems, and roof. The "below average" ranking for year built on its street highlights that it is older than most neighbors.
3. The lot size is a standout feature. What does this mean practically?
A lot of this size (over 1/6 of an acre) in North River Heights is a significant asset. It provides ample room for gardening, recreation, private outdoor living space, and potential additions like a garage or deck. It also offers a greater sense of privacy and may provide more future flexibility than smaller, standard lots in the area.
4. The living area is above average, but how is the layout?
The data confirms the quantity of space. However, the layout and flow of a 1928 home may differ from modern open-concept designs. Considering how the room sizes and configuration fit your lifestyle is as important as the square footage total.
5. Why is the assessed value higher than the city and street average, but lower than the neighborhood average?
This indicates that North River Heights as a whole has higher property values than the wider city. The fact that this home’s assessment is above the street average but slightly below the neighborhood average suggests it is a valuable property on its block, though there may be even higher-valued homes elsewhere in North River Heights.