Property Summary: 201-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This well-maintained, single-level home in Elmhurst offers a practical and comfortable living space. Built in 1999, it presents a modern layout with 1,092 sqft of living area. Its standout feature is its exceptional relative standing within the community: it ranks in the top 1% of homes on its street and the top 5% for its age in the neighborhood, suggesting a well-regarded and established location. The recent sale in September 2024 at $300,000 represents a significant increase from its 2019 price, indicating strong market confidence and appreciation in the area.
The appeal lies in its move-in readiness and positional strength within a desirable community, rather than expansive land or luxury amenities. It suits first-time buyers seeking a solid starter home in a mature neighborhood, downsizers looking for a manageable single-level layout without extensive upkeep, or investors attracted by the demonstrable value growth and stable rental demand in established Winnipeg communities. A thoughtful perspective is that while the home's size and assessed value are modest relative to the wider city, its elite rankings within its immediate locale highlight the premium placed on this specific pocket of Elmhurst, offering a sense of community and stability that isn't captured by square footage alone.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 1% on its street") actually mean?
This means that, based on the available metrics (like lot size, age, or value), this property scores higher than the stated percentage of other homes in the comparison area. For example, being in the top 1% for its street in "size ranking" indicates it is on a larger lot than nearly all its immediate neighbors.
2. Why is the recent sale price so much higher than the city's assessed value?
Municipal assessments for tax purposes often lag behind rapid market shifts. The sale price reflects current buyer demand and the perceived market value, which in this case has risen sharply, while the assessment may be based on older data.
3. Is the lack of a basement or garage a major drawback?
It depends on your needs. The absence of these features means lower utility costs and less maintenance, which appeals to those seeking simplicity. However, it reduces storage space and may not suit buyers who require a workshop, parking shelter, or traditional basement recreation area.
4. The home ranks lower for size within Winnipeg. Is it considered small?
At 1,092 sqft, it is below the Winnipeg average for living area. This confirms it is a more compact, efficient home, which aligns with its likely appeal to those prioritizing location and community over sheer interior space.
5. What does the price history suggest about the neighborhood?
The 52% increase between the 2019 and 2024 sales points to robust demand and appreciation in this part of Elmhurst. It suggests the neighborhood is holding or increasing its value strongly, which is a positive indicator for future equity.