Property Overview: 288 Cathcart Street, Varsity View, Winnipeg
This well-established one-storey home sits on a generous, mature lot in the sought-after Varsity View neighborhood. Built in 1975, its key characteristics include a fully finished basement and a spacious 1,201 sqft layout. The property’s standout feature is its expansive 5,379 sqft land area, which ranks in the top tier for its street and offers significant potential for gardening, recreation, or future expansion. While it lacks a garage or pool, its appeal lies in its solid footprint and prime location near the University of Manitoba.
The home presents a practical opportunity rather than a turn-key luxury purchase. It would suit a buyer looking for a long-term family home with room to grow, a downsizer seeking single-level living on a private lot, or an investor attracted by the stable rental market near the university. Its rankings suggest it’s a competitively sized property in a mature area, ideal for someone valuing space and location over newer finishes, and who is prepared for the maintenance or updates typical of a 50-year-old home.
Frequently Asked Questions
1. What is the significance of the property rankings provided?
The rankings compare this home against others on its street, in Varsity View, and across all of Winnipeg for specific metrics like lot size and age. They show that while the home is older, its lot size is a major advantage, placing it in the top 5% on its street. This data helps gauge its relative strengths in the local market.
2. Is the finished basement included in the 1,201 sqft living area?
No, the 1,201 sqft figure refers to the above-ground living space. The basement is additional, finished square footage, adding functional space for recreation, guests, or storage.
3. What are the implications of the home being built in 1975?
As a 50-year-old property, buyers should budget for potential updates to major systems like roofing, windows, or plumbing. However, its age is fairly typical for the neighborhood, and it may offer more character and larger lot sizes than newer constructions.
4. The home has no garage. What are the parking options?
The property listing does not specify a driveway, but the large lot may accommodate off-street parking. Buyers should verify on-site parking arrangements and review any local street parking regulations.
5. How does the assessed value relate to the likely selling price?
The city assessment of $364,000 is for tax purposes and is a historical snapshot. The actual market price will be determined by current demand, the home's condition, and recent sales of comparable properties in Varsity View. It serves as a reference point, not a guaranteed sale price.