Property Overview
270 Cathcart Street is a well-situated bi-level home in Winnipeg's Varsity View neighbourhood. Built in 1972, it sits on a large, approximately 7,000 sqft lot and features a finished basement and a detached garage. With 875 sqft of living space, it's a compact yet functional layout. The home's assessed value is $386,000, and it last sold in 2017 for $324,000. Its appeal lies in its prime location within a mature, central community, offering a substantial lot size that is increasingly rare for the area. The data suggests it represents a solid, middle-of-the-road option within its immediate neighbourhood but stands out more significantly when compared to the wider Winnipeg market, particularly for its lot size and overall value assessment.
Key Characteristics & Ideal Buyer
This property is defined by its balance of location, lot size, and pragmatic layout. Its key characteristic is the generous 6,994 sqft lot, which provides ample outdoor space and potential in a central, established area like Varsity View. The home itself is a modestly sized bi-level with a finished basement, catering to efficient living rather than expansiveness. Its appeal is grounded in being a manageable property in a desirable location, with stats showing it outperforms 83% of Winnipeg homes on lot size. It would suit first-time buyers or downsizers seeking a low-maintenance footprint without sacrificing yard space, or an investor/renovator attracted by the underlying value of the land and the potential to update the existing structure. A less obvious perspective is that while the home ranks average in many categories within its own community, its strong city-wide rankings hint at a property that may offer better relative value compared to outlying areas, making it a strategic entry point into a central neighbourhood.
Frequently Asked Questions
1. How does the bi-level layout affect living space?
A bi-level typically features living areas split across two short flights of stairs, creating defined separation between sleeping and living zones. The 875 sqft size indicates a efficient use of space, suitable for smaller households.
2. What does the "finished basement" entail?
The listing confirms a finished basement but does not specify the finish quality, rooms, or ceiling height. This would be a key point for verification during a viewing to understand the true usable space.
3. Why is the lot size a significant feature?
At nearly 7,000 sqft, the lot is larger than over 80% of properties in Winnipeg. In a mature neighbourhood like Varsity View, this offers rare potential for gardening, expansion, or simply more private outdoor space than newer central developments.
4. How should the provided rankings be interpreted?
The rankings compare this property to others on its street, in Varsity View, and across all Winnipeg. They are useful for understanding relative standing. For example, ranking in the top 17% city-wide for lot size is a strong asset, while its average rankings within the community suggest it's a typical home for the area.
5. What is indicated by the difference between the 2017 sale price and current assessed value?
The increase from the 2017 sale price ($324,000) to the current assessed value ($386,000) reflects market appreciation and assessment changes over seven years. The assessed value is used for tax purposes; the eventual sale price is determined by the current market.