Property Overview: 654 Cathcart Street
Section 1: Key Characteristics & Appeal
This well-established two-storey home in Elmhurst presents a compelling blend of space, amenities, and location. Its key appeal lies in its generous 7,061 sqft lot and above-average 1,623 sqft living area, both ranking in the top tiers for the street and wider city. The property features a practical attached garage and the added luxury of a private swimming pool. Built in 1978, the home offers a classic layout with the potential for future expansion in its unfinished basement.
The recent sale price significantly above the assessed value suggests a competitive market recognized its desirable attributes. This home would suit buyers looking for a spacious family home on a large, private lot with recreational amenities already in place. It’s ideal for those who value room to grow, enjoy outdoor living, and appreciate a home with a proven, stable foundation in a mature neighbourhood. A thoughtful perspective: while the interior finishes may reflect its era, the large lot and solid footprint offer a blank canvas for gradual modernization, allowing new owners to add their own value over time.
Section 2: Frequently Asked Questions
1. What does the "ranking" data actually mean?
The rankings compare this property against others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size surpasses 83% of all Winnipeg properties, indicating it is exceptionally spacious for the city.
2. The house sold for much higher than its assessed value. Why?
Municipal assessments for tax purposes often lag behind current market conditions. The strong sale price likely reflects high buyer demand for the home’s specific combination of a large lot, pool, and living space in this location.
3. Is the unfinished basement a drawback or an opportunity?
This depends on the buyer. It requires investment to finish, but it also provides significant flexible space for future customization—such as creating a recreation room, home gym, or additional bedrooms—without the constraints of a pre-existing layout.
4. What should I consider with a 48-year-old home?
While the structure is proven, a thorough inspection is crucial to understand the current condition of major systems like roofing, plumbing, electrical, and the foundation. The pool will also require specific maintenance and safety considerations.
5. How does the pool impact insurance and utility costs?
Homeowners insurance premiums may be higher due to liability, and seasonal maintenance (opening/closing, chemicals) as well as increased water and energy usage during summer months should be factored into the annual cost of ownership.