Property Overview: 2-207 Masson Street, Central St. Boniface
Section 1: Key Characteristics & Appeal
This is a compact, late-1980s condominium in the heart of St. Boniface. With 990 square feet of living space, it offers a practical footprint that is manageable and efficient. The unit lacks a basement, pool, or private garage, positioning it as a straightforward, low-maintenance property.
Its primary appeal lies in its location within a historic and vibrant Winnipeg neighbourhood, combined with a recent sale price that reflects accessible entry into the market. The data suggests it is a value-oriented option within its immediate building and street, as its assessed value and living area rank below the average for Masson Street itself. However, it aligns more closely with the broader neighbourhood and city averages, indicating you are paying for the location rather than premium space or finishes.
This property would best suit a first-time buyer, downsizer, or investor seeking an affordable foothold in Central St. Boniface. It’s for someone who prioritizes neighbourhood character and walkable amenities over expansive private square footage or modern luxury features. A thoughtful perspective for a buyer here is to weigh the benefits of the location against the specific building’s condo fees and reserve fund, as the building’s common elements will be a significant factor in the overall cost of ownership.
Section 2: Frequently Asked Questions
1. What does the ranking data (e.g., "Top 86%") actually mean for this property?
It’s a comparative benchmark. For example, being in the "Top 86%" for assessed value on its street means about 86% of comparable homes on Masson Street have a higher assessed value; this unit is on the more affordable end within its most immediate peer group.
2. The unit sold for $23,200 in May 2024. Is this the full purchase price?
Almost certainly not. This figure is dramatically lower than the assessed value and typical sale prices, strongly indicating it was a transfer of partial interest (like between family members) and not an arms-length market sale. The true market value would be closer to its assessed value of $230,000.
3. What are the implications of having no basement or private garage?
It means significantly reduced private storage space and no off-street parking. Buyers should budget for potential monthly parking rentals if needed and prioritize decluttered living. The upside is less personal space to maintain and heat.
4. The building was constructed in 1989. What should I investigate?
Focus on the status of major common element updates. In a building of this age, key systems like roofing, windows, balconies, and elevators may be near or past their typical lifespan. Review the condo corporation’s reserve fund study and minutes to understand past repairs and planned future special assessments.
5. Who are my immediate neighbours, given the nearby listed addresses (e.g., 4-207, 1-207 Masson St.)?
The listing shows multiple units at the same civic number (207 Masson Street), confirming this is a condo apartment or townhouse complex. Your neighbours will be other unit owners within the same building or complex, governed by a shared condo corporation.