Property Overview
This 1,279 sqft condo at 5-702 St. Mary's Road in Elm Park presents a balanced urban living option. Built in 1998, it features a renovated basement and sits in a low-rise complex directly on a major arterial road. Its appeal lies in offering above-average space for a Winnipeg condo, providing more room than many city-wide alternatives while being priced accessibly within its immediate area. The recent sale in October 2024 suggests a refreshed market value.
It would suit a practical buyer looking for a spacious, low-maintenance home without venturing to the distant suburbs. It's ideal for those who prioritize interior square footage over a secluded location, as the setting on St. Mary's Road offers high convenience for commuters and access to amenities, but comes with the expected traffic and activity of a main thoroughfare. A first-time buyer or downsizer seeking value in space, and who is comfortable with a busier street environment, would find this a compelling fit.
Frequently Asked Questions
Is this a good value for the area?
The data suggests it is competitively positioned. While its assessed value is below average for Elm Park specifically, it is above average city-wide. You are essentially getting more square footage than the typical Winnipeg condo, which may offset the less premium location within the neighbourhood.
What are the implications of being directly on St. Mary's Road?
This guarantees excellent vehicle access and proximity to buses and services. The trade-off is potential for higher noise levels, dust, and less pedestrian tranquility compared to units set back on quieter side streets. It’s a classic convenience-versus-peace balance.
How does the renovated basement factor in?
The renovated basement effectively adds usable living space to the 1,279 sqft footprint. This is a significant functional advantage, providing flexibility for a home office, recreation room, or additional storage, which is not always available in condo living.
The building is from 1998. What should I consider?
Constructed 28 years ago, the building is in the phase where major components (like roofing, windows, elevators if present, and building systems) may be due for inspection, updates, or special assessments. Reviewing the condo corporation's reserve fund study and minutes is essential to understand future financial obligations.
Who are my immediate neighbours?
The listing shows several units within the same complex (e.g., 6-702, 1-704 St. Mary's Road). This indicates a multi-unit building or a cluster of townhouse-style condos. Understanding the demographics, rules, and community feel of this specific complex will be as important as the neighbourhood itself.