Property Overview: 534 Cathcart Street
Key Characteristics & Appeal
This 1984-built, one-storey home in Elmhurst sits on a large, 7,688 sqft lot, offering significant outdoor space that ranks in the top tier for its street and neighborhood. With 1,268 sqft of living space and a finished basement, it provides practical, single-level living. The property's standout feature is its strong overall value ranking; it places in the top 13% of all Winnipeg homes for lot size and the top 29% for assessed value ($428,000), suggesting a well-regarded property relative to the broader market. Its appeal lies in this combination of a generous, established lot in a mature neighborhood, coupled with the convenience of main-floor living and updated fundamentals.
This home would suit buyers looking for a grounded, long-term property rather than a project. It’s ideal for those who prioritize private outdoor space over a large interior footprint, such as downsizers seeking a manageable home without sacrificing yard size, or a young family valuing room for children to play. The strong rankings indicate it's a competitive property within its area, likely appealing to a value-conscious buyer who recognizes the worth of land and location.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate area and across Winnipeg. For example, being in the top 13% for lot size in Winnipeg means the lot is larger than 87% of properties in the city, a significant advantage.
2. Is the finished basement included in the 1,268 sqft living area?
No, typically the listed "living area" refers to above-grade, heated square footage. The finished basement is an additional space, adding functional rooms like a family room or extra bedrooms.
3. The house is over 40 years old. What should I be aware of?
While systems like the roof, windows, and furnace may have been updated over time, a thorough inspection is crucial to understand the condition of these aging components and plan for future maintenance.
4. Who might this property not suit?
Buyers seeking a modern, open-concept layout or extensive recent renovations may find the 1984 floor plan and style requires compromise or future updates. It may also not fit someone wanting minimal yard maintenance.
5. The assessment is $428,000. Will it sell for that price?
The assessed value is for municipal tax purposes and is a reflection of past market data. The sale price is determined by current market conditions, the home's specific condition, and buyer demand, and can be higher or lower.