Property Summary: 123-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This well-situated Elmhurst home, built in 2000, presents a compelling opportunity for specific buyers. Its primary appeal lies in its exceptional relative standing within its immediate surroundings. The property ranks in the top 1% of its street for size and age, and is in the top 3% of its neighborhood for being a newer build, indicating it is a modern standout on its block. With 1,391 sqft of living space, it offers above-average roominess for the area.
The home would suit pragmatic buyers who value community position over sheer size. It's ideal for someone seeking a move-in ready, modern property without the premium of a brand-new build, and for those who appreciate a home that compares favorably in age and scale to its neighbors. A thoughtful perspective is that its strong "street ranking" suggests a desirable micro-location within Elmhurst, potentially offering more stability and community appeal than the broader neighborhood metrics alone might indicate. However, its lower percentile ranking for assessed value signals a market valuation that is more accessible compared to many area homes, which could represent a value entry point into a well-ranked street.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in specific geographic areas. For example, ranking in the "top 1% on its street" for size means it is larger than 99% of the other homes on Cathcart Street.
2. The home ranks highly for age and size, but lower for assessed value. Why might that be?
This can occur due to a variety of factors, including interior condition, specific finishes, or the precise timing of the assessment relative to market changes. It may indicate an opportunity where the property's market price could be more accessible than its physical attributes suggest.
3. Is the lack of a basement or garage a major drawback?
This depends on the buyer's needs. It simplifies maintenance and eliminates risks associated with basement moisture, but reduces storage and utility space. For buyers seeking a low-maintenance lifestyle, this could be a feature rather than a flaw.
4. Who would this property NOT be suitable for?
It would likely not suit buyers who require extensive storage, a basement for recreational or utility purposes, or those whose priority is a home that ranks in the top tier for absolute size across the entire Winnipeg market.
5. How significant is the "top 1% on its street" ranking?
This is a key metric, as your direct neighbors and streetscape greatly impact daily life and long-term value. It strongly suggests this is one of the more substantial and newer homes on the block, which typically contributes to pride of ownership and neighborhood desirability.