Property Overview & Key Characteristics
This condominium at 801-180 Tuxedo Avenue is a standout property defined by exceptional space and established value. Its primary appeal lies in its expansive 3,212 sqft living area, which places it in the top 1% of comparable homes locally and citywide. Built in 1988, the unit is situated in the Edgeland area of Tuxedo, offering a mature setting. The property’s assessed value of $96,300 is also highly ranked, indicating a strong foundational value relative to property taxes.
The unit would best suit buyers who prioritize abundant interior space above all else, typically seeking a large family home or a luxurious sense of volume within a condominium structure. It appeals to those who value an established, low-maintenance lifestyle in a prime neighbourhood without the upkeep of a detached house. A less obvious perspective is its potential appeal to multi-generational families or those who work from home and require significant, dedicated areas for offices or separate living quarters, all within a single-level layout (implied by its basement designation as "No").
Frequently Asked Questions
1. What does the "Elite" ranking for living area actually mean?
It means this unit's square footage is larger than 99% of comparable condos in Winnipeg, making it exceptionally spacious for its property type.
2. How can the assessed value be so much lower than the last sale price?
The $96,300 assessment is for municipal tax purposes and reflects a government valuation, not the market value. The last sale in 2021 was at $1.13M, which is the relevant figure for understanding current market value.
3. What is the significance of having "No" basement?
This indicates the unit is likely a ground-floor or lower-level condo without a separate basement level. All 3,212 sqft of living space is on its primary floor(s), which is a key factor in its layout and feel.
4. Are the high rankings due to the property or its location?
The data suggests it's primarily the property itself. While in a desirable area (Tuxedo/Edgeland), its living area and assessed value rank in the top 1-2% even when compared city-wide, confirming the unit's exceptional characteristics.
5. What should I consider about a condo from 1988?
While the building is well-established, potential buyers should diligently review the condominium corporation's reserve fund study, financial health, and any recent or planned special assessments for major repairs (like roofing, windows, or building envelope updates), which are common for buildings of this age.