Property Overview: 128-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, mid-sized home built in 2000, offering a balance of modern convenience and established neighborhood character. Its primary appeal lies in its exceptional standing within the immediate community. The property ranks in the top 1% of its street and top 3% of the Elmhurst neighborhood for lot size, providing a generous sense of space. It also ranks highly for its relatively recent build year, being newer than 97% of homes in Elmhurst. With 1,242 sqft of living space, it sits comfortably above the median for the area.
The home suits practical buyers looking for a move-in-ready property in a mature neighborhood without the maintenance concerns of an older house. It’s particularly suited for first-time buyers or downsizers who prioritize a manageable footprint, a stable community setting, and a home that holds a competitive edge in terms of lot size and age within its locale. A thoughtful perspective is that while the municipal assessment is modest, the home’s superior rankings for lot size and age suggest underlying value and desirability that may not be fully reflected in the valuation, pointing to solid long-term fundamentals in its micro-market.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in the immediate area. For example, being in the "top 1% for lot size on its street" means its lot is larger than 99% of its direct neighbors, a significant advantage for privacy and outdoor space.
2. Is the assessed value a good indicator of the listing price?
Not necessarily. The assessed value for municipal taxes is often lower than market value. This home's assessment is conservative compared to its high rankings for lot size and age, suggesting market value could be higher based on these desirable characteristics.
3. What are the implications of having no basement?
This means all living space is on ground level or above, which can be a benefit for accessibility and eliminates concerns about basement flooding or moisture. However, it also reduces potential storage or utility space that a basement would provide.
4. The home sold in 2017 for $236,000. What does that tell us?
It indicates a history of stable ownership over the past seven years. The modest increase in assessed value since that time may reflect a slower appreciation rate in this specific price segment, but it also suggests the current owner may have maintained the property well without overcapitalizing.
5. Who would this property not suit?
It may not suit buyers looking for extensive renovation projects, those requiring a garage, or families needing significantly more square footage. Its appeal is geared toward those who value a balanced, low-maintenance property in a well-established community setting.