Property Overview & Key Characteristics
This 1972 bi-level home at 276 Cathcart Street offers a practical footprint in the established Varsity View neighbourhood. Its key appeal lies in the combination of a large, 6,456 sqft lot—a notable asset in a mature area—and a finished basement, which expands the usable living space beyond the 870 sqft main level. The property includes a connected garage for convenience.
The home’s competitive rankings reveal a nuanced position: while its living area is more compact, its lot size and overall assessed value perform strongly against most Winnipeg properties. This creates a specific value proposition. It would suit first-time buyers or downsizers seeking a manageable home with significant outdoor space and the stability of an older, well-located community. It’s also a potential candidate for those with a longer-term vision, as the generous lot presents future possibilities (like gardening, expansion, or renovation) that are harder to find in newer subdivisions.
Frequently Asked Questions
1. What does the "bi-level" design mean for daily living?
A bi-level typically features a short flight of stairs to the main living area (kitchen, living room) and another short flight down to bedrooms and a lower-level family space. This offers good separation of living and sleeping zones but involves more stairs than a bungalow.
2. The living area seems modest. How does the finished basement factor in?
The finished basement effectively adds usable square footage, likely for a recreation room, office, or additional storage. It mitigates the compact feel of the main floor, making the overall living space more flexible and functional.
3. The lot is large, but what is its actual condition and potential?
While the size is a major advantage, prospective buyers should assess the current landscaping, tree maturity, and any existing structures. A lot of this scale in an older neighbourhood could allow for gardens, play areas, or even future additions, subject to city bylaws.
4. How should I interpret the competitive rankings?
They show the home’s relative standing. For instance, ranking in the top 39% by assessed value in Winnipeg suggests it is priced below many city homes, while ranking in the top 84% for living area (meaning only 16% are smaller) confirms the main floor is compact. The strong lot size ranking is a key highlight.
5. What are the considerations with a home built in 1972?
While offering solid construction, homes from this era may have original components like windows, roofing, or major systems (heating, electrical) nearing the end of their service life. A thorough inspection is advised to budget for potential updates, balanced against the character and established neighbourhood feel.