Property Overview
562 Cathcart Street is a well-established, single-story home in Winnipeg's Elmhurst neighbourhood. Built in 1972, its primary appeal lies in its generous, mature lot of over 7,000 square feet, offering significant outdoor space that is uncommon for many inner-city properties. The home itself is modest in size at 1,008 square feet and features a finished basement. Its key characteristics include a classic, low-maintenance bungalow style with no garage.
This property would suit first-time buyers, downsizers, or value-focused investors looking for a solid entry point into a mature community. Its strongest draw is the land itself, presenting a long-term opportunity for gardening, expansion, or future redevelopment. The home’s condition and systems, given its age, will be a primary consideration, but for the right buyer, it represents a chance to secure a large parcel in the city. The rankings provided suggest it holds its value well against Winnipeg averages, particularly on lot size, but is more average or below average within its immediate neighbourhood for factors like living space and recent updates.
Frequently Asked Questions
1. What does the "finished basement" include?
The listing notes a finished basement but does not specify the extent. Buyers should inquire about the quality of the finish, ceiling height, legal egress, and whether it includes a bathroom or separate living space to understand its true functional value.
2. How does the lack of a garage affect parking and storage?
With no garage, all parking will be on the driveway or street. The large lot may offer room to add a garage or shed in the future, subject to city bylaws. Assessing winter parking and storage needs for vehicles and belongings will be important.
3. The lot is large, but what is its condition and potential?
A lot of this size is a major asset. Buyers should consider the condition of existing trees, fencing, and landscaping. It's also wise to research any zoning restrictions or community guidelines that might affect future plans like adding a garage, a suite, or even a new build.
4. The home ranks lower within its own neighbourhood for size and age. What does this mean?
This indicates that many nearby homes may be larger or more recently updated. It doesn't necessarily reflect poorly on this specific property, but it suggests a more classic, affordable option in the area. It highlights the importance of comparing the home's condition and features directly against similarly priced listings in Elmhurst.
5. Given the age, what major systems might need attention?
A home from 1972 likely has original or older major components. A thorough inspection should focus on the roof, windows, plumbing, electrical (especially if not updated to modern service), and the heating system. The condition of these will be key to understanding immediate and future costs.