353 Cambridge Street

Property Summary: 353 Cambridge Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home in North River Heights is defined by its generous proportions and established character. Its primary appeal lies in offering above-average space both inside and out, situated on a large, desirable lot. With over 2,150 sqft of living area, the home provides significantly more interior space than most comparable properties on its street, in the neighbourhood, and across Winnipeg. The nearly 7,211 sqft lot is particularly noteworthy, ranking in the top 5% of North River Heights for land area, which presents ample room for gardens, recreation, or expansion.

Built in 1928, the home is one of the older properties on the block, suggesting classic architectural charm but also indicating that its condition and updates will be a key consideration for buyers. The assessed value of $608k reflects its premium positioning relative to peers. This property would best suit buyers who prioritize space and location over a newer build—specifically, those looking for a character home with room to grow, or who value the potential of a large lot in a prime central neighbourhood. It appeals to those comfortable with the maintenance or renovation possibilities that come with a home of this vintage.

Section 2: Frequently Asked Questions

1. How does the home’s age impact its value and appeal?
While older than many area homes, its age is typical for the neighbourhood's character. The higher assessed value suggests the lot size, living area, and location outweigh the age factor, but a thorough inspection is essential to understand the condition and any needed updates.

2. What does the "Elite" ranking for land area mean practically?
Ranking in the top 5% for lot size in North River Heights means you are getting a property with significantly more outdoor space than is typical. This allows for greater privacy, landscaping potential, and is a rare find in mature neighbourhoods.

3. The sold price from 2021 is shown as a range. What is the exact figure and how has the market changed?
Exact sold prices are provided upon request via email. Comparing that 2021 sale range to the current $608k assessment can indicate market trends, but an assessment is for tax purposes and may not reflect current market value. A comparative market analysis is recommended.

4. The living area is large compared to the street average. Is the home simply bigger, or could it be configured differently?
At over 2,150 sqft, it is substantially larger than the ~1,332 sqft street average. This could mean more bedrooms, larger rooms, or a more functional layout. Reviewing the floor plan is necessary to understand the specific configuration.

5. Are there any concerns with such a high assessed value relative to neighbours?
A higher assessment typically means higher property taxes. While it indicates the city views the property as more valuable, it’s wise to research recent sales of similar-sized homes in the area to gauge if the assessment aligns with the current market.