Property Overview: 126-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, 1,115 sqft home built in 2000, located in the Elmhurst neighbourhood. Its primary appeal lies in its exceptional relative standing within its immediate area. The property ranks in the top 1% of its street and the top 3% of its community for lot size, indicating a more spacious setting than nearly all its neighbours. It also ranks highly for its modern build year, being newer than 97% of homes in Elmhurst.
The 2024 municipal assessment is $232,000, with a previous sale recorded at $240,000 in December 2017. The home has no basement, garage, or swimming pool. It suits buyers looking for a modern, ground-level living space in a mature neighbourhood, who prioritize a highly ranked lot size and newer construction over extensive square footage or additional structures like garages. It represents a practical, low-maintenance option with a strong positional value in its local market.
Frequently Asked Questions
1. What does the "top 1% for lot size" ranking actually mean?
It means this property's land area is larger than 99% of other homes on Cathcart Street. In a mature neighbourhood, this suggests a more generous yard or setback than is typical, offering a greater sense of space and privacy.
2. The home has no basement or garage. How does this impact living and storage?
This means all living space is on the main floor, which can be ideal for accessibility. However, it requires creative solutions for storage, utilities, and mechanical systems. Buyers should consider the cost and feasibility of adding a shed or external storage.
3. The assessment value is below the 2017 sale price. Should I be concerned?
Not necessarily. Municipal assessments for tax purposes don't always align perfectly with current market value. It does, however, suggest the property is in a lower price tier for the city, which can mean more affordable property taxes.
4. Who would this property be a good fit for?
It's well-suited for first-time buyers, downsizers, or investors seeking a modern, low-maintenance property in a stable neighbourhood. Its high rankings for lot size and age are strong points for someone valuing those specific characteristics over maximum interior space.
5. What are the less obvious things to consider?
The high rankings for lot size and build year are significant advantages. However, the interior square footage is average or below average for the area. The trade-off is clear: you're getting a premium lot and a newer home, but not the largest house on it. Focus on whether the layout and finished space meet your needs.