692 Cathcart Street

Property Overview

This 1977-built, one-storey home in Elmhurst presents a practical and spacious family offering. Its key characteristic is the generous 7,200 sqft lot, which places it in the top 15% of all Winnipeg properties for land size, providing exceptional outdoor space potential. The home itself features 1,104 sqft of living space with a finished basement and a detached garage. Its appeal lies in the balance of a sizable, established lot in a mature neighbourhood with the low-maintenance simplicity of a single-level layout. It would particularly suit first-time buyers or downsizers looking for a manageable footprint without sacrificing yard space, or investors/renovators who see value in the land and the solid, functional foundation the property provides. A thoughtful perspective is that while the home's interior metrics rank in the middle to lower ranges locally, the standout lot size offers a rarity that cannot be replicated in newer subdivisions, representing long-term value in land ownership.

Frequently Asked Questions

1. What is the true value of the large lot size?
Beyond simple outdoor space, a lot of this size (top 15% in Winnipeg) offers future potential such as additions, extensive landscaping, or garden suites (subject to zoning approval), which is increasingly uncommon in urban settings.

2. Is the finished basement included in the listed living area?
No. The 1,104 sqft living area refers to the above-ground footprint. The finished basement provides additional flexible space but is not counted in the official square footage.

3. How should I interpret the percentile rankings?
These rankings compare this property against others in its immediate street, broader Elmhurst community, and all of Winnipeg. For example, ranking in the "top 15%" for lot size citywide means 85% of Winnipeg properties have smaller lots, highlighting a key strength.

4. What does the age of the home (49 years) mean for a buyer?
It indicates a well-established property in a mature neighbourhood with likely developed landscaping. Buyers should budget for updates to major aging components like the roof, windows, or mechanical systems, which are common for homes of this era.

5. Why is there a difference between the home's size rank and its assessed value rank?
The assessed value ($370,000) ranks higher citywide than the living area does, suggesting assessors have factored in the value of the large lot, the finished basement, and overall market conditions, not just the square footage of the main floor.