262 Cathcart Street

Property Overview

This 1953-built, one-storey home in Varsity View offers a classic, grounded living experience. Its primary appeal lies in the combination of a substantial, mature 8,070 sqft lot in a desirable neighbourhood with a functional, updated layout. The fully finished basement and detached garage add practical living and storage space. With 884 sqft of main-floor living area, it presents a manageable footprint.

The property suits first-time buyers seeking entry into a prime area without a massive initial scale, or downsizers looking for a single-level home with a low-maintenance structure but the benefit of a large, private outdoor space. Its competitive rankings—especially outperforming 89% of Winnipeg homes on lot size—highlight its standout characteristic: the land itself. The appeal here is less about the size of the house and more about the potential and permanence offered by the lot in a well-established community.

Key Questions for Consideration

1. What is the true value proposition of this home?
While the house is a modest-sized bungalow, the value is significantly anchored in the large, mature lot within the Varsity View community. Buyers are investing in location and land, with the home serving as a comfortable, updated dwelling on that premium plot.

2. How does the age of the home (73 years) impact maintenance?
The 1953 build date places it in the top 72% of Winnipeg homes for age, meaning it is older than most. Prospective buyers should prioritize inspections for foundational integrity, original plumbing, and electrical systems, even though the basement finish suggests some updates have been made.

3. The lot is large, but how is the house positioned on it?
With a lot size ranking in the top 11% city-wide, how the 884 sqft home sits on the property is key. There may be exceptional backyard privacy, side space for gardens or additions, or potential for future landscaping projects not possible on standard lots.

4. Who might find the "split" rankings most relevant?
The rankings tell a nuanced story: the lot size is elite, but the living space is below average for the area. This is ideal for buyers who prioritize outdoor space over indoor square footage. Conversely, those needing significant interior room may find it limiting.

5. What does the assessment value versus price indicate?
The city's assessed value of $369,000 provides a tax baseline, but not necessarily the market price. Its assessment ranks in the top 43% in Winnipeg, suggesting the official valuation sees solid worth. Buyers should compare this with the list price and recent neighbourhood sales to gauge the market's premium for the large lot.