662 Cathcart Street

Property Overview & Key Characteristics

This two-storey home on a large, 7,061 sqft lot in Elmhurst presents a solid and spacious offering. Built in 1978, its key appeal lies in its generous proportions and established setting. With 1,623 sqft of living space, it ranks in the top 9% of homes on its street for size, providing ample room for a growing or multi-generational family. The finished basement and attached garage add practical, day-to-day value. Its lot size is notably above average, offering private outdoor space with potential for gardening, play, or expansion.

The home’s strongest suit is its balance. It doesn't top the charts in every category but offers a compelling mix: significant interior space, a large yard, and a finished basement at an assessed value that ranks highly within Winnipeg overall. It would particularly suit buyers looking for a "move-in-ready" foundation—a home that provides immediate functionality without being brand new, in a mature neighbourhood where the value is derived more from the house and land itself than from trendy finishes. It’s a practical choice for those who prioritize space and lot size over a modern build date.

Frequently Asked Questions

1. How does the age of the home (built 1978) impact its condition and potential costs?
While the home ranks as newer than 61% of properties in Winnipeg, being nearly 50 years old means essential systems like roofing, windows, plumbing, or electrical may be at or beyond their typical lifespan. A thorough inspection is crucial to anticipate potential updates, though the home has likely seen several renovations over the decades.

2. The lot is large, but what does that mean for me practically?
Beyond simple privacy, a lot of this size (ranking highly for the street) offers flexibility. It could accommodate additions like a shed, a larger deck, or extensive landscaping. It also suggests the property may feel less cramped than newer subdivisions, but it also means more yard maintenance.

3. The community ranking shows it's around the middle for the neighbourhood. What does that indicate?
This suggests the home is very typical for Elmhurst in terms of metrics like assessed value and build year. It’s neither an outlier nor a standout within its immediate area, which can be positive for resale value—it should appeal to the broad market for this community.

4. The basement is finished. What should I ask about this space?
It's important to clarify the quality and legality of the finish. Was it permitted? What is the ceiling height, and is there proper moisture control? A finished basement adds livable square footage, but its value depends heavily on the execution and whether it feels like an integral part of the home.

5. The assessment value is significantly higher than many nearby homes. Is this a guarantee of its market price?
Not a guarantee, but a strong indicator. An assessment at $436,000, ranking in the top 28% in Winnipeg, reflects the city's opinion of its value for tax purposes, which is often based on size, lot, and improvements. It typically sets a baseline, but the final sale price will be determined by current market conditions, the home's exact state, and buyer demand.