Property Summary: 328 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home in the Varsity View neighbourhood, built in 1974 on a spacious 5,780 sqft lot. Its key features include a fully finished basement and an attached garage. With 1,200 sqft of living space, it offers a practical layout for everyday living.
The appeal lies in its solid positioning within a mature, sought-after community. The property holds its value well, consistently ranking above average in city-wide assessments for its price point. It’s not the newest or largest on the block, but it represents a stable and substantial offering in a prime location. This home would particularly suit first-time buyers or downsizers looking for a low-maintenance, single-level floorplan in a central neighbourhood without a premium price tag. It’s for those who value established communities, larger lot sizes, and functional space over brand-new finishes.
Frequently Asked Questions
1. How does the property’s age impact its value?
Built in 1974, the home is over 50 years old. While it ranks as newer than over half of Winnipeg's housing stock, prospective buyers should budget for updates to major aging components like the roof, windows, or mechanical systems, which is typical for homes of this era.
2. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate area and city-wide. For example, ranking "in the top 37%" for lot size in Winnipeg means its 5,780 sqft lot is larger than 63% of all properties in the city, which is a significant advantage.
3. Is the finished basement included in the 1,200 sqft living area?
Typically, the listed "living area" refers to above-grade, heated space. The finished basement is an additional area, providing extra functional rooms but not usually counted in the official square footage.
4. Who might this property NOT suit?
It may not suit buyers seeking a modern, open-concept layout or those unwilling to undertake any updates. The one-storey design and specific era of construction often mean more compartmentalized rooms compared to newer builds.
5. Why is the assessed value higher than many comparable homes in the area?
The assessment ranks higher than 69% of Winnipeg homes, indicating the city assessor views the property's combined land and improvement value as substantial. This can reflect the desirable lot size, location, and the fact the home is fully finished, including the basement.