Property Summary: 570 Cathcart Street
Key Characteristics & Appeal
This is a well-established, single-family bungalow situated on a generously sized lot in Elmhurst. Built in 1970, the home offers 1,128 sqft of living space and features a finished basement and an attached garage. Its standout feature is the 7,197 sqft lot, which provides ample outdoor space—a significant asset in a mature neighborhood. The property’s overall value proposition is strong, with its assessment value ranking notably higher city-wide than its age or interior size, suggesting the land itself is a major contributor.
The appeal here is one of space and practicality. It suits buyers looking for a solid, no-fuss home with room to breathe and potentially customize, whether that means gardening, expanding, or simply enjoying a larger yard. It would be a particularly good fit for first-time buyers or downsizers seeking single-level living in a quiet area, who prioritize lot size over a modern build. A less obvious perspective is that while the home itself is older and average in size for the area, its superior city-wide ranking for lot size indicates a scarcity value; it offers a parcel of land that is increasingly hard to find in today’s market.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size ranks in the top 15% city-wide, which is exceptional, while the home’s age and living area are more average for its local area. This highlights the lot as a key strength.
2. Is the basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. Buyers interested in rental income should verify its status and compliance with local regulations through further inquiry.
3. What are the implications of the home being built in 1970?
While offering classic bungalow layout and proven construction, homes of this age may have original components (like roofing, windows, or plumbing) nearing the end of their service life. A thorough inspection is advised to budget for any updates.
4. Who might this property not suit?
It may not suit buyers seeking a move-in-ready modern home with contemporary layouts and finishes, or those who prefer a low-maintenance yard. The value here is in the space and potential, not in turn-key modernity.
5. How does the lot size benefit me beyond just having a big yard?
A large lot provides flexibility for future additions like a garage, sunroom, or deck. It also offers greater privacy from neighbors and can be a significant driver of long-term property value appreciation, as land is a finite resource.