Property Summary: 528 Cathcart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 1971-built, one-storey home in Elmhurst sits on a notably large, mature lot of over 7,100 sqft, offering significant outdoor space that is rare for the area. Its key features include a finished basement and a modest 873 sqft of living space. The appeal here is fundamentally rooted in land value and long-term potential rather than immediate size or modern finishes. It ranks highly city-wide for its lot size (top 16%) and is assessed at a moderate value, presenting a grounded entry point into the market.
This property would best suit a pragmatic, hands-on buyer. It’s ideal for someone who values private outdoor space for gardening, children, or pets above a large interior, and who sees the home itself as a solid canvas for gradual updates. Investors or downsizers looking for a manageable single-level layout with a finished basement for additional living or rental income might also find it compelling. It represents an opportunity to secure a substantial piece of land in a well-established neighborhood, with the understanding that the home itself may require modernization.
Section 2: Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. Key takeaways are that its lot size is exceptionally competitive city-wide, while the home’s age and living area are fairly typical for its immediate area, indicating a neighborhood of similar vintage homes.
2. Is the finished basement included in the 873 sqft living area?
No, the 873 sqft is the above-ground living area. The finished basement provides additional, valuable space that is not reflected in that official square footage figure.
3. What are the implications of a 55-year-old home?
While structurally sound, buyers should budget for age-related updates. This includes potential repairs or replacements to major systems like roofing, plumbing, or electrical, which can be an opportunity to customize the home to your standards over time.
4. There’s no garage. How feasible is adding one?
The very large lot is a major asset here, making the addition of a garage or a sizable workshop a more feasible future project from a space perspective, subject to local zoning and permit approvals.
5. Why is the city assessment lower than I might expect?
The assessment reflects the city’s valuation for tax purposes, which considers factors like age, size, and neighborhood sales. Its moderate assessment, combined with the high land ranking, suggests the perceived value is currently more in the land than the structure, which can represent a value opportunity for the right buyer.