593 Cathcart Street

Property Overview

This 1969 bi-level home at 593 Cathcart Street sits on a notably large, approximately 9,900 sqft lot in Elmhurst. Its key appeal lies in the substantial land size, which ranks within the top 4% of properties on its street and the top 6% across all of Winnipeg, offering significant space and potential. The home itself features 1,429 sqft of finished living space, including a developed basement, and is accompanied by a detached garage.

The property would suit buyers prioritizing land value over a modern build, such as those looking for room to garden, expand, or simply enjoy a larger-than-average urban yard. It’s also a practical fit for someone comfortable with a home of its era, as its age and construction date are less competitive relative to the neighborhood. The strong rankings for lot size and overall value assessment suggest a solid, land-centric investment in a well-established area.

Key Questions & Considerations

1. What does the "ranking" data actually mean?
The rankings compare this property to others on its street, in Elmhurst, and across Winnipeg. For example, its lot size ranks in the top 4% on the street, meaning it's larger than 96% of nearby properties. Conversely, its 1969 build year is older than 93% of homes on the street, providing context for its age.

2. Is the large lot usable, or does it have limitations?
While the lot size is a major asset, its full use will depend on zoning bylaws, the presence of any easements, and the actual topography. A site survey would be needed for any plans like additions, pools, or outbuildings.

3. What are the implications of a "developed basement" in a bi-level?
In a bi-level, the lower level is partially above ground, often allowing for better natural light and egress than a standard basement. A developed basement here likely adds significant living space, but it's wise to check for proper permits, ceiling height, and moisture management given the home's age.

4. How does the assessment value relate to the likely selling price?
The municipal assessment of $398,000 is for tax purposes and is a historical snapshot. The market price can be higher or lower based on current conditions, the home's interior condition, and buyer demand for large lots.

5. What might maintenance look like for a home of this age?
Built in 1969, major systems like roofing, plumbing, electrical, and the foundation may be original or nearing the end of their service life. A thorough inspection is crucial to understand upcoming capital costs, which should be factored into any offer.