Property Summary: 312 Cathcart Street, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on a notably large lot in the Varsity View neighborhood. Built in 1970, its primary appeal lies in its generous, mature property (over 8,000 sqft), which offers significant outdoor space and potential in a central location. The home itself features a finished basement and a split garage. Market data suggests it is a competitively positioned property: its lot size and assessed value rank highly compared to most of Winnipeg, indicating its underlying land value is a major asset. However, its age and interior living space are more average for the local area.
It would particularly suit a buyer who values space and location over a modern build. The large lot is ideal for gardening, family play, or future expansion. The rankings show it outperforms most city homes on key metrics like lot size and value, yet is more modest within its own desirable community, presenting a potential value proposition. This could be a solid fit for a practical buyer looking to put down roots in a mature neighborhood, who sees the land as a long-term asset and is comfortable with a home that may require personal updates over time.
Frequently Asked Questions
1. How does the large lot size impact property value and costs?
While the lot significantly boosts the property's overall value and appeal, it also means higher property taxes relative to smaller lots and greater responsibility for maintenance (e.g., lawn care, landscaping).
2. The home ranks lower for its age in the area. What should I consider?
This indicates the immediate neighborhood may have a mix of older original homes and newer infill developments. It's important to have a thorough inspection to understand the condition of major 1970-era systems like plumbing, electrical, and the roof.
3. What does the "finished basement" include?
The listing notes a finished basement but does not specify the extent, quality, or if it includes legal egress windows. Clarifying the nature of this space and whether it adds legal living area is crucial.
4. The assessed value is higher than the 2020 sale price. Is this typical?
Yes, municipal assessments have risen across Winnipeg in recent years. The current assessment reflects the city's valuation for tax purposes, but the market sale price is determined by current buyer demand and property condition.
5. How does the split garage differ from an attached garage?
A split garage typically refers to a detached, two-car garage where the doors are separated by a wall section. This style is common for the era and offers good storage, but means you will be exposed to the elements when going between your car and the house.