316 Cathcart Street

Property Overview & Appeal

This 1972-built, one-storey home in Varsity View sits on a notably large, 8,067 sqft lot. Its key characteristics include a finished basement, a rare private swimming pool, and a split garage. With 1,067 sqft of living space, the house itself is modest, but the property's standout feature is its expansive outdoor space, which is larger than over 80% of lots on its street. The home’s assessed value ranks highly for the area, suggesting solid underlying value for the neighbourhood.

The primary appeal lies in its unique combination of a massive, private yard and an in-ground pool—a rare find in this setting. It suits buyers looking for a established, single-level home with exceptional outdoor entertainment potential, ideal for families, gardeners, or those who value private outdoor space over a large interior. A thoughtful perspective is that while the home is over 50 years old and its interior size is below average for the area, the land represents a significant asset. It offers a lifestyle-oriented property where the backyard becomes the main living area in summer, appealing to those who prioritize space and recreation over a modern or expansive floor plan.

Frequently Asked Questions

1. What is the true value of such a large lot?
Beyond the privacy and space, a lot of this size in a established neighbourhood offers long-term potential. It provides ample room for additions, extensive landscaping, or future redevelopment, subject to zoning.

2. How does the pool impact insurance and maintenance costs?
A private pool increases annual maintenance costs and will typically raise home insurance premiums. It's advisable to budget for seasonal opening/closing, ongoing chemicals, and increased liability coverage.

3. Is the finished basement a legal suite?
The listing states the basement is finished but does not specify it as a legal rental suite. Buyers should verify its compliance with local codes if considering rental income.

4. Why is the assessed value higher than the ranking for living area?
The assessment reflects the total property value, which is significantly boosted by the large lot size and improvements like the pool and garage, outweighing the modest square footage of the home itself.

5. What are the seasonal considerations for a property like this?
The pool dictates a strong seasonal use, creating a summer oasis but requiring winterization. The large lot also means more yard work in spring and fall, which can be a benefit for gardeners or a consideration for maintenance time and cost.