Property Summary: 231 Cathcart Street, Varsity View, Winnipeg
Key Characteristics & Buyer Appeal
This is a well-established 4-level split home built in 1977, situated on a large 5,047 sqft lot in the Varsity View neighbourhood. Its key appeal lies in its generous proportions and established setting. With 1,659 sqft of living space, it offers significantly more room than most comparable homes in the area, ranking in the top 20% across Winnipeg for size. The property includes a finished basement and an attached garage.
The home’s strength is its solid, spacious foundation in a mature community. It suits buyers looking for a character home with ample indoor and outdoor space, who value room to grow or customize over a brand-new build. It’s particularly well-suited for a family or a long-term buyer who appreciates the stability of a larger lot and the potential that comes with a home of this vintage. The rankings suggest it’s a competitively sized property in a desirable location, though it may appeal more to those comfortable with the maintenance and update projects typical of a home nearing 50 years old.
Frequently Asked Questions
1. What is a 4-level split layout?
This style features multiple short flights of stairs creating four distinct levels, often separating living, sleeping, and recreational areas for good privacy and defined zones.
2. How does the "finished basement" affect living space?
The 1,659 sqft living area includes the finished basement. This adds versatile space for recreation, guests, or a home office, but local regulations dictate what is considered legal living space.
3. What do the ranking percentages mean?
They show how this property compares to others. For example, ranking in the "top 20%" for size in Winnipeg means 80% of homes are smaller. It's a quick way to gauge its relative standing in key metrics.
4. Is the assessed value the same as the market value?
No. The $423,000 assessment is for municipal tax purposes. Market value is determined by current sale prices and can be higher or lower.
5. What are the considerations for a home built in 1977?
While offering solid construction and mature landscaping, buyers should budget for updates to major aging components like the roof, windows, and mechanical systems, and be aware of building materials and insulation standards of that era.