Property Overview: 352 Cathcart Street
Key Characteristics & Appeal
This is a well-established, single-family bungalow in the sought-after Varsity View neighbourhood. Built in 1974, it sits on a notably large, mature lot of over 8,500 square feet, which is a standout feature, placing it in the top 14% of properties on its street for land size. The home offers 1,314 sqft of living space with a finished basement and an attached garage. Recent market activity is strong, with a sale price in April 2023 that outperformed a significant majority of comparable sales in Winnipeg at the time.
Its primary appeal lies in a combination of location, space, and proven value. The lot provides exceptional outdoor potential and a sense of privacy rare in the city core. The home suits buyers looking for a solid, move-in-ready property in a prime academic and family-oriented community—perfect for those who value a large yard over a brand-new build. A thoughtful perspective is that this property represents a "land-value play" in a stable area; the substantial lot is a long-term asset that underpins the investment, potentially offering more future flexibility than the house itself.
Frequently Asked Questions
1. How does the large lot size impact property costs?
While offering great space and potential, a lot of this size typically results in higher municipal property taxes compared to homes on standard city lots, as taxes are partly based on land value.
2. Is the 1974 build year a concern?
The home is over 50 years old, so a thorough inspection is essential to assess the condition of major systems like roof, plumbing, and wiring. Its age is very typical for the neighbourhood and is reflected in its mid-range ranking for "newness" in the area.
3. What does the strong 2023 sale price indicate?
The sale at $445,000, which ranked highly against city-wide sales, demonstrates robust buyer demand for this specific location and property type. It suggests the home holds its value well in the market.
4. Who is the ideal buyer for this property?
It's an excellent fit for families, academics, or professionals seeking a established home in a central, desirable neighbourhood like Varsity View, with room for gardening, play, or future outdoor upgrades.
5. How does the finished basement add value?
The finished basement effectively increases the usable living area beyond the main floor square footage, providing valuable space for recreation, guests, or storage, which is a key functional benefit.