Property Overview: 688 Cathcart Street
This well-situated Elmhurst bungalow offers a practical and spacious family footprint on a large, 7,200 sqft lot. Built in 1978, its key characteristic is its efficient, single-level living layout with 1,088 sqft of finished space above a fully developed basement, providing ample room for growth or multi-generational living. The property includes a split garage and ranks highly for its lot size and overall assessed value within Winnipeg.
Its primary appeal lies in its established neighbourhood setting combined with strong value metrics. It outperforms a significant majority of Winnipeg homes in terms of lot size and assessment value, suggesting a solid investment in a mature area. The home suits first-time buyers seeking a move-in-ready bungalow without a premium price, or downsizers looking for manageable single-storey living without sacrificing yard space. It also appeals to value-oriented buyers who prioritize the potential of a large lot over having the newest home on the block.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Elmhurst, and across all of Winnipeg. For example, its lot size is in the top 15% city-wide, meaning it's larger than 85% of Winnipeg lots. Conversely, its living area is smaller than 59% of city homes, confirming it's a moderately sized bungalow.
2. Is the basement included in the 1,088 sqft living area?
No. The 1,088 sqft refers to the main floor living space above ground. The basement is listed separately as "finished," meaning it provides additional, developed square footage not reflected in that primary figure.
3. How does a 48-year-old home compare to newer builds?
The data shows its age is newer than 61% of Winnipeg homes, placing it in a middle range. In its specific community, however, it's older than 65% of neighbours, indicating Elmhurst has many newer properties. This suggests a balance of established infrastructure and mature landscaping, with potential for updates.
4. What is the significance of the assessment value ranking?
With an assessment that surpasses 66% of Winnipeg homes, the property is viewed by the assessor as being of above-average value for the city. This can be a positive indicator for equity and resale, though market conditions ultimately determine sale price.
5. What are the less obvious considerations with this property?
The split garage design often offers more flexible storage or workshop space than a single door. The high lot-size ranking hints at valuable outdoor space for gardens, play, or expansion, which is increasingly rare. Buyers should weigh the benefits of the large lot and finished basement against the home's main floor square footage, which is below average for the community.