Property Overview: 246 Cathcart Street, Winnipeg

Key Characteristics & Appeal

This is a well-situated, single-storey home in Varsity View, built in 1953. Its primary appeal lies in a combination of generous outdoor space and a solid, established neighborhood setting. The property sits on a large 8,071 sqft lot, which is notably spacious and ranks in the top 11% for size across all of Winnipeg. This offers significant potential for gardening, expansion, or simply enjoying a large private yard—a rarity closer to the city core.

The home itself is modest in size at 960 sqft and includes a finished basement and a detached garage. Recent sale history shows steady appreciation. While the house is older and ranks as one of the more dated on its street, it presents a classic opportunity: the value is anchored strongly in the land and location. This property would suit a practical buyer looking for a foothold in a desirable central neighborhood, who values outdoor space over a large or modern interior and is potentially open to future updates or additions. It’s a home for someone who sees the underlying asset—the large lot in a prime area—as the key draw.

Frequently Asked Questions

1. What is the real significance of the lot size?
At over 8,000 sqft, the lot is substantially larger than many in Winnipeg. This isn't just about a big yard; it provides tangible options for future landscaping projects, adding a garage or workshop, or even the potential for an addition, subject to zoning.

2. The house ranks as quite old. What should I consider?
While the 1953 build date places it in the bottom third for age on its street, this is balanced by the large lot and location. Buyers should budget for expected maintenance and updates common to homes of this era, but can take confidence from the solid, long-term value drivers of the property.

3. How does the finished basement affect living space?
The finished basement effectively adds flexible space to the 960 sqft main floor, which can be crucial for a growing family, a home office, or a recreation room, making the overall footprint more functional.

4. The assessment is higher than the 2021 sale price. What does that indicate?
The current assessment of $390,000, compared to the 2021 sale price of $331,000, reflects market-wide value increases over the past few years. It suggests the property has appreciated, but the final market value will be determined by current buyer demand.

5. Who is the typical buyer for this home?
This property likely appeals to first-time buyers or downsizers seeking a central location with outdoor space, and to investors or renovators who see value in the substantial lot and are comfortable with a home that may require modernization over time.