Property Overview: 423 Cambridge Street, Winnipeg
Key Characteristics & Appeal
This home at 423 Cambridge Street in North River Heights presents a solid, mid-century property with a grounded value proposition. Built in 1940, it offers 1,334 sqft of living space on a 4,798 sqft lot. The data suggests it is a quintessential example of the neighbourhood: its living area and assessed value ($441k) are consistently around the average for Cambridge Street and North River Heights. This indicates a home that is neither oversized nor undersized for the area, fitting comfortably within the local market fabric.
Its appeal lies in its established location and relative value. While the lot size is slightly below the street average, the home’s assessed value ranks above the city-wide average, hinting that the premium is for the desirable North River Heights location rather than the physical dimensions of the property itself. Recent sale history shows a clear and significant appreciation since 2017, with the last two sales (2022 and 2024) achieving prices in the top 15-20% for the street, demonstrating strong demand for homes in this spot.
This property would suit a buyer looking for a genuine, no-surprises entry into a well-regarded neighbourhood. It’s ideal for someone who values location and community character over a new build or a sprawling lot. It would also appeal to a pragmatic buyer who sees the value in a home that has consistently performed well in resale, suggesting a stable investment in a mature area.
Frequently Asked Questions
1. How does this home’s value compare to others in Winnipeg?
The home’s assessed value of $441k ranks above the city-wide average, placing it in the top 30% of all Winnipeg properties for this metric. This suggests you are paying a premium for the North River Heights location.
2. Is the lot size a disadvantage?
At 4,798 sqft, the lot is below the average for Cambridge Street but is around the average for the broader North River Heights area. It provides standard backyard space for the neighbourhood but may not suit those seeking an exceptionally large yard.
3. What does the sale history tell us about the property?
The home has sold three times since 2017, with each sale price band rising significantly. The last two sales were in the upper tier for the street, indicating robust and sustained buyer interest in this specific property.
4. As a home built in 1940, what should I consider?
While the building age is older than many on its street, it is typical for the central neighbourhood. A pre-purchase inspection is essential to understand the condition of major aging components like the roof, foundation, plumbing, and wiring.
5. The data shows "comparable homes" in the area average more living space. Is this home too small?
While the average living area in North River Heights is higher, this home’s size is very close to the average for its own street (1,334 sqft vs. 1,332 sqft). It represents the scale of many original homes in the area, suitable for a smaller household or those comfortable with a more efficient layout.