Property Summary: 610 Cathcart Street
Key Characteristics & Appeal
This is a well-established, single-storey home in Elmhurst, built in 1970. Its primary appeal lies in its generous, mature lot of over 8,000 sqft—a significant and increasingly rare find that offers ample outdoor space for gardening, recreation, or future expansion. The home itself features a finished basement and a split garage, providing practical living and storage solutions.
The property’s standout value is its land. While the house is modest in size (1,063 sqft) and typical of its era, the lot size ranks in the top 11% across Winnipeg, indicating a substantial and desirable parcel. This creates a compelling proposition: a comfortable, move-in-ready home on a property with long-term potential. It would particularly suit first-time buyers or downsizers seeking a manageable single-level layout without sacrificing yard space, as well as value-oriented buyers who recognize the inherent worth of land in a mature neighbourhood. The strong city-wide ranking for lot size suggests a "land bank" quality, where the property's future redevelopment or addition potential may be as attractive as the current home.
Frequently Asked Questions
1. What does the "finished basement" include?
The listing notes a finished basement but does not specify the rooms or finish quality. A viewing is essential to determine if it's a recreational space, additional bedrooms, or a separate suite, and to check for any moisture issues common in older homes.
2. How does the split garage configuration work?
A split garage typically means two separate single-car garage doors, often side-by-side. This can be more convenient than a single double door but may limit space for larger vehicles or workshop areas.
3. The house ranks lower for size and age on its street. Is that a concern?
Not necessarily. The lower rankings for living area and build year reflect that the home is smaller and older than many in the immediate area. This is balanced by its very high ranking for lot size, suggesting the neighbourhood may have a mix of original homes and larger, newer replacements, highlighting this property's redevelopment potential.
4. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($377,000) is for municipal tax purposes and is a starting point. The market value is determined by current buyer demand, the condition of the home, and the high-desire factor of the large lot, which may not be fully captured in the assessment.
5. What are the main considerations for a 56-year-old home?
Prospective buyers should budget for updates to major aging systems, such as the roof, windows, plumbing, and electrical. A thorough home inspection is crucial to identify any immediate needs and to understand the maintenance schedule for a home of this vintage.