Property Overview: 554 Cathcart Street, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated Elmhurst bungalow offers a classic and practical living arrangement on a generous, mature lot. Its key characteristics include a fully finished basement, a split garage, and a functional 1,076 sqft main-floor layout built in 1972. The home’s standout feature is its expansive 7,196 sqft lot, which provides ample outdoor space for gardening, recreation, or future expansion, ranking it among the larger properties in its immediate area.

The appeal lies in its established neighborhood setting and its strong value proposition. The recent sale price aligns closely with its municipal assessment, suggesting a stable and transparent market value. While the home itself is not the newest or largest in comparison to all Winnipeg properties, its lot size and overall package outperform a significant majority of homes city-wide, indicating a solid foundation of intrinsic value. This property would best suit first-time buyers, downsizers, or practical investors seeking a manageable, single-story home with a low-maintenance exterior and the bonus of a developed basement for extra living space. It’s for those who prioritize land size and neighborhood stability over a modern, turn-key interior.

Section 2: Frequently Asked Questions

1. How does this home’s value compare to its neighbors?
The data shows this property’s assessed and recent sale value ranks in the top 29-35% on its street and top 31-33% city-wide, suggesting it is valued higher than many comparable nearby homes. This is likely influenced by its above-average lot size and finished basement.

2. Is the house in need of major updates?
Built in 1972, the home is over 50 years old. Buyers should anticipate typical maintenance and potential updates for systems like roofing, windows, or mechanicals, which is common for homes of this vintage. The interior may benefit from cosmetic modernization.

3. What are the advantages of such a large lot?
The nearly 7,200 sqft lot offers rare space for a city bungalow, allowing for privacy, large gardens, play areas, or the potential for additions like a shed or deck. It provides a sense of openness uncommon in many newer subdivisions.

4. What does the “rankings” data actually mean?
The rankings compare this specific property against others on its street, in Elmhurst, and across all of Winnipeg for metrics like size, age, and value. For example, ranking “in the top 16% in Winnipeg” for lot size means 84% of Winnipeg properties have a smaller lot area, highlighting a key competitive strength.

5. How does the finished basement add value?
A fully finished basement effectively doubles the usable living space (though not the official square footage), providing crucial extra rooms for a family room, home office, or additional bedrooms. This adds significant functional utility to a 1,076 sqft bungalow.