Property Overview & Key Characteristics

This 1981 four-level split home at 753 Cathcart Street in Elmhurst offers a practical and spacious layout on a large, 6,213 sqft lot. Its key appeal lies in its above-average living space (1,605 sqft) and a fully finished basement, providing ample room for a growing family or those who value separate living areas. The home’s recent sale price significantly exceeded its assessed value, indicating strong market demand for well-maintained properties in this location.

The property would suit buyers looking for a established home in a mature neighbourhood, offering more interior space and a larger yard than many newer builds. It’s particularly suitable for those who don’t mind a multi-level floor plan and appreciate the value of a finished basement for extra living, recreational, or storage space. A thoughtful perspective is that while the home is 45 years old, its rankings show it is newer and offers more square footage than a majority of homes in the immediate area, suggesting it was a premium offering when built and remains a solid, competitive property today.

Frequently Asked Questions

1. What does the "four-level split" layout typically mean?
This style usually features short flights of stairs separating four distinct living levels. It often provides good separation between living, sleeping, and recreational areas, but involves more stairs than a bungalow or two-storey home.

2. The home recently sold for significantly more than its assessed value. Why?
Municipal assessments are for tax purposes and often lag behind current market conditions. The sale price reflects what a buyer was willing to pay in the open market, likely based on the home's condition, updates, and desirable lot size not fully captured in the assessment.

3. How does the lot size compare to the neighbourhood?
At over 6,200 sqft, the lot is very generous. The data shows it ranks highly within the street and Elmhurst community, meaning it is larger than most nearby properties, offering great potential for outdoor space, gardening, or future expansion.

4. Are there any concerns with a home built in 1981?
Homes from this era are generally well-built but may have original components, like windows, roofing, or major systems (furnace, electrical), that are nearing or past their typical lifespan. A thorough inspection is advised to understand the condition and potential update schedule.

5. What do the ranking percentages actually tell me?
They show how this property compares to others in its immediate area. For example, ranking "in the top 23%" for living area in Winnipeg means 77% of homes in the city are smaller. This data helps you understand the home's relative strengths (like its size and newer age on its street) within the market.