Property Overview: 226 Cathcart Street, Varsity View, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on a large, 6,727 sqft lot in the sought-after Varsity View neighborhood. Built in 1971, the 1,067 sqft residence features a finished basement, offering additional living space. Its primary appeal lies in the combination of a substantial, mature property within a central academic and family-oriented community. The data indicates its overall value proposition is strong, ranking in the top 19% of all Winnipeg properties for lot size and the top 42% for assessed value, suggesting a solid asset in a desirable location.
It would particularly suit first-time buyers or downsizers looking for a manageable single-level layout with room to grow outdoors, or investors attracted by the lot's long-term potential in a stable area. A less obvious perspective is that while the home itself ranks average in size and age for its immediate area, its standout attribute is the land—a large parcel that is increasingly rare in mature core neighborhoods, offering privacy and future possibilities that newer subdivisions often cannot match.
Frequently Asked Questions
1. What is the significance of the provided rankings?
The rankings compare this property against others on its street, in Varsity View, and across all of Winnipeg for specific metrics. For example, being in the top 19% city-wide for lot size highlights the property's standout characteristic, while more average rankings for living area give a balanced view of the home's scale.
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 investigate the current layout and licensing with the city to understand the possibilities and requirements.
3. What are the implications of a 1971 build year?
Homes from this era may have original components, like windows, roofing, or electrical systems, that could be nearing the end of their service life. A thorough inspection is advised to budget for potential updates, balanced against the character and established neighborhood that come with an older home.
4. There's no garage. What are the parking options?
The property has no garage, so parking is limited to the driveway and street. In a neighborhood near the university, prospective buyers should assess on-street parking availability during peak academic times to ensure it meets their needs.
5. Why is the assessed value different from the listing price?
The municipal assessed value ($373,000) is for taxation purposes and is based on mass appraisal techniques from a prior date. The listing price is set by the seller and reflects current market conditions, specific home features, and recent comparable sales. The two figures often differ.