Property Overview
This condominium at 201-160 Tuxedo Avenue in Winnipeg's Edgeland neighbourhood presents a balanced, spacious option in a well-established building. Its key appeal lies in offering above-average space for the city and the area, with a living area of 1,600 sqft that ranks in the top 6% citywide. Built in 1984, the unit is neither the newest nor the oldest in its immediate vicinity, suggesting a building with mature infrastructure. The assessed value is modest compared to the neighbourhood average, which could indicate a favourable property tax outlook or an opportunity relative to its square footage.
The unit would suit practical buyers looking for roominess without a premium price tag, such as downsizers from a house seeking to maintain space, or first-time buyers who prioritize square footage over a brand-new build. Its appeal is grounded in value and space rather than luxury finishes or a trendy location. A less obvious perspective is that a unit of this size and age in a multi-unit building often comes with a more stable and predictable maintenance history than newer constructions, and a mature condo corporation can be a sign of established governance and resolved building issues.
Frequently Asked Questions
1. How does the space in this unit compare to others?
At 1,600 sqft, this condo offers significantly more living area than the Winnipeg city-wide average (~1,042 sqft). It is also above the average for the Edgeland area, placing it in the top 27% for size locally.
2. What is the likely condo fee structure for a building of this age?
Constructed in 1984, the building is 42 years old. Prospective buyers should diligently review the Status Certificate for the condo corporation's reserve fund study, recent special assessments, and the health of the reserve fund to understand how major repairs and maintenance are being planned and funded.
3. The assessed value seems lower than some neighbours. What does this mean?
The unit's assessed value ($36.80k) is below the Edgeland area average for comparable homes. This can result in lower property taxes, but it may also reflect the unit's specific condition, finishes, or the building's amenities compared to others. It's a key point for comparison against the asking price.
4. Is the building mostly owner-occupied?
Given the concentration of units at this address (with many neighbouring suites listed), it would be prudent to ask the condo corporation or property manager about the owner-occupancy versus tenant-rental ratio, as this can impact building upkeep and community atmosphere.
5. How does the last sale price relate to current value?
The unit last sold in July 2020 for $350k. This historical data provides a benchmark, but current market conditions, updates to the unit, and changes in the condo corporation's finances since that time will be the primary drivers of its present value.