716 Cathcart Street

Property Summary: 716 Cathcart Street

Section 1: Key Characteristics & Appeal

This 1977-built, one-storey home in Elmhurst sits on a notably large, mature lot of over 7,300 sqft, offering a rare sense of space and privacy for the neighbourhood. Its key features include a fully finished basement and a split garage. With 1,079 sqft of living space, it presents a practical, single-level layout.

The primary appeal lies in its established setting and land value. The property ranks highly within Winnipeg for lot size (top 14%) and assessed value (top 36%), suggesting a solid, well-positioned asset in a mature community. It suits buyers looking for a manageable, ground-level home without stairs, who value a large outdoor space for gardening, family play, or future expansion over a large interior footprint. It’s a pragmatic choice for downsizers, first-time buyers seeking a stable investment with room to grow, or those who prefer the character and tree-canopy of an older, settled area to a new subdivision.

Section 2: Frequently Asked Questions

1. How does the age of the home (built 1977) affect its condition and potential costs?
As a home approaching 50 years, major systems like the roof, windows, furnace, or plumbing may be at or beyond their typical lifespan. A thorough inspection is crucial to budget for potential updates, though the home has clearly been maintained given its stable market history.

2. What are the benefits and drawbacks of such a large lot?
The lot is a significant asset, offering privacy, space for additions like a shed or deck, and ample greenery. However, it also means more yard maintenance (mowing, landscaping) and potentially higher property taxes relative to homes with smaller lots in the area.

3. The home's living area is ranked below average in size for the city. Will it feel cramped?
At just over 1,000 sqft on the main floor, the living space is compact. The fully finished basement effectively doubles the usable area, which is critical for storage, utilities, and additional living or recreational space, making the overall footprint very functional.

4. The 2021 sale price was very close to the current assessed value. What does this indicate?
This suggests the market value has remained stable and the assessment is closely aligned with recent market activity. It points to a property that is not dramatically over- or under-valued, providing a clear benchmark for pricing.

5. The rankings show the home is newer and more valuable than many in Winnipeg, but older and smaller than many in its own community. What does this mean?
This highlights Elmhurst as an established neighbourhood with a mix of home sizes and vintages. This property offers a balance—it’s a solid, average home for the specific street and community, but its large lot and overall value make it a stronger performer when compared to the entire city’s housing stock.