Property Summary: 112 Cadboro Road
Key Characteristics & Appeal
This property presents a compelling value proposition defined by a significant contrast between its modest home and its exceptional land. The 1,187 sqft bungalow, built in 1975, is below average in size and assessed value for its immediate street and newer Waverley West neighborhood. This positions it as an affordable entry point into the area. Its true standout feature is the land: a 43,574 sqft lot that is not only the largest on its street but ranks in the top 1% citywide for comparable homes. This creates a unique profile of a home with renovation or expansion potential sitting on a rare, substantial parcel.
The appeal lies in this duality. It suits budget-conscious buyers seeking space and future potential over immediate luxury—ideal for those willing to update a solid older home to personalize it. It’s also a strategic buy for long-term investors or owners who value private outdoor space above interior square footage. A less obvious perspective is its citywide value ranking (top 21%), which suggests the assessed value is strong for Winnipeg overall, indicating the lot size is already factoring into its worth and solidifying its foundation as a sound asset.
Frequently Asked Questions
1. Is the house in need of major repairs?
The listing does not specify condition, but the 1975 build date and below-average assessments for the area suggest the home is likely dated or basic in its current state. A thorough inspection is essential to determine if updates are cosmetic or structural.
2. Why is the lot size so significant?
The lot is over an acre, ranking in the elite 1% for Winnipeg. This offers unparalleled privacy, space for gardens, recreation, or future additions like a garage, workshop, or even subdivision potential, subject to zoning approvals.
3. How does the value compare to the neighborhood?
The home’s assessed value ($493K) is below the neighborhood average (~$629.5K), largely due to its smaller, older house. You are primarily paying for the land. This means you may get less house for your money now but own a more scarce resource (land) that newer, larger homes in the area often lack.
4. What type of buyer is this best for?
It’s ideal for a handy buyer or planner with a vision. It suits someone looking for an affordable footprint to renovate or expand over time, or anyone who prioritizes extensive outdoor space—like gardening, hobby farming, or family play—over a large, move-in-ready interior.
5. Are there downsides to such a large lot?
Yes, consider ongoing maintenance (lawn care, snow clearing) which requires more time, equipment, or cost. Property taxes, while below the neighborhood average now, are based on the assessed value which already reflects the premium lot. Future increases could be influenced by this substantial land value.