Property Overview
This 966 sqft condominium, built in 1993, presents a practical and competitively positioned home in Winnipeg's Elmhurst area. Its primary appeal lies in its established location and straightforward value. The unit ranks exceptionally high within its immediate community and city-wide for its price point, indicating it offers one of the most accessible entry points into the market. It suits first-time buyers seeking affordability without compromising on neighborhood stability, or investors looking for a low-maintenance rental property with a proven value history. A thoughtful perspective is that while the interior space is modest, its top-tier rankings for value suggest you are paying primarily for location and land share in a mature area, which can be a wise long-term foundation. The recent sale history shows stable value with minimal fluctuation, appealing to those wary of volatility.
Key Details & FAQs
- Key Characteristics: A 33-year-old, 966 sqft condo with no basement or garage. Last sold in 2017 for $189,000, with a current assessed value of $194,000.
- Primary Appeal: Exceptional value ranking within its community and across Winnipeg, indicating strong affordability. It's a stable, low-maintenance option in an established neighborhood.
- Ideal For: First-time homebuyers prioritizing entry into the market and investors seeking a straightforward, income-producing property.
Frequently Asked Questions
1. What do the "rankings" actually mean?
They show how this property compares to others in the immediate area. For example, ranking in the "top 0%" for value in its community means it is among the most affordable properties there, not the most luxurious.
2. Is the lack of a basement or garage a significant drawback?
It limits storage and utility space, which is a consideration for owners with many belongings or who require workshop/indoor parking. However, this also means fewer maintenance responsibilities and costs, which aligns with a true "lock-and-leave" condo lifestyle.
3. The assessed value is close to the 2017 sale price. Does this mean it hasn't appreciated?
Not necessarily. It suggests the property's market value has remained very stable over that period. In a slower market, maintaining value can be a positive, and the assessed value provides a solid baseline for municipal taxes.
4. Who is responsible for exterior maintenance and repairs?
As a condominium, the corporation is typically responsible for the building exterior, common areas, and major structural elements. Owners pay a monthly fee for this, which covers these upkeep costs and can provide budget predictability.
5. The living area is below average for the community. How does that impact livability?
The space is efficient. It will suit individuals, couples, or those comfortable with compact living. The trade-off is that you gain affordability and a premier value position within a desirable community you might otherwise not afford in a larger property.