Property Overview & Key Characteristics
This 1,252 sqft condominium, built in 1993, offers a practical and low-maintenance living solution in Winnipeg's Elmhurst neighborhood. Its primary appeal lies in a compelling combination of above-average space for a condo and a highly competitive price point within the broader market. The data indicates it ranks in the top tier for size within its immediate area, offering more room than most comparable units on its street and in the community. While the assessment and recent sale value position it as a more affordable option in the wider Winnipeg context, its standout feature is the exceptional value-for-space ratio it presents locally.
The property would suit first-time buyers seeking to enter the market with a spacious footprint without the upkeep of a house, or downsizers looking for a manageable home that doesn’t feel cramped. Investors may also find it attractive due to its relative affordability and the consistent demand for reasonably priced, larger condo units. A less obvious perspective is its potential appeal to those who prioritize financial predictability; the recent sale price close to the current assessed value suggests a stable, transparent valuation without the volatility of a highly inflated market.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this unit compares to others in specific areas. For example, ranking in the "top 0%" for size in its community means it is larger than 100% of other homes used in that comparison, indicating it is one of the most spacious condos available in Elmhurst.
2. Is the low maintenance a full guarantee?
While the condo structure eliminates responsibilities like exterior maintenance and landscaping, you will be responsible for a monthly condo fee. It's crucial to review the corporation's financial health, reserve fund, and bylaws to understand what is covered and to anticipate future fee stability.
3. The community assessment rank seems low. Is this a concern?
The unit ranks in the top 95% for assessed value in Elmhurst, meaning its assessed value is higher than only 5% of properties. This isn't inherently negative; it primarily reflects that the condo is a more affordable property type within a community that likely includes many higher-value single-family homes. It underscores the unit's role as an accessible point of entry into the neighborhood.
4. How significant is the 1993 build year?
Built 33 years ago, the building is in its middle age. The ranking shows it's newer than most on its street. The key consideration shifts from age itself to how well the building has been maintained and updated. A review of the condo corporation's minutes for recent major repairs (roof, windows, plumbing) is essential.
5. There's no garage. What are the parking arrangements?
The listing specifies no garage. Prospective buyers must inquire with the condo corporation about the specific parking provisions for the unit, such as whether it includes a dedicated surface spot, a carport, or access to a shared lot, and if there is additional cost or a waitlist for visitor parking.