Property Overview: 104-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, second-floor condominium in the Elmhurst neighbourhood, built in 1999. With 1,142 sqft of living space, it offers a practical layout in a no-fuss building that lacks amenities like a garage or pool, which translates to lower monthly fees. Its standout feature is its exceptional competitive positioning within the broader market. The unit ranks in the top tier for its size relative to its immediate street and the entire city, suggesting it offers more space for the price than most comparable options. Furthermore, it is newer than approximately 80% of all Winnipeg homes, a significant advantage for buyers wary of older building maintenance issues.
The appeal lies in its value-oriented efficiency. It suits a first-time buyer, downsizer, or pragmatic investor seeking a straightforward, move-in-ready property without the upkeep of a yard or exterior maintenance. The 2019 sale price is very close to its current assessed value, indicating stable market value. A less obvious perspective is that its high rankings for size and age, contrasted with a lower ranking for assessed value, could signal an opportunity for a buyer who prioritizes living space and modern construction over premium finishes or location prestige. It’s a solid, unpretentious home for someone whose priority is square footage and a relatively recent build within a sensible budget.
Frequently Asked Questions
1. What are the condo fees, and what do they cover?
This information is not provided in the current details. A buyer must request the condo corporation’s financial statements and bylaws to understand the monthly fees and what utilities, insurance, or maintenance costs are included.
2. Why is the assessed value ranking lower than the rankings for size and age?
The assessment is based on multiple factors, including recent sales and the specific unit’s value. The higher rankings for size and age indicate this unit is physically larger and newer than most homes, but its market value may be moderated by factors like its specific floor plan, interior condition, or the building’s overall market perception.
3. Is this a good investment property?
Given its stable price history and efficient layout, it could be a candidate for a rental investment. Its appeal to tenants would likely be its space and modern build. Due diligence on the condo corporation’s rules on rentals and its financial health is essential.
4. What is the Elmhurst neighbourhood like?
Elmhurst is a mature, established residential area in Winnipeg. Prospective buyers should visit at different times to gauge traffic, noise, and neighbourhood feel, and research proximity to desired amenities like transit, shopping, and schools.
5. The data shows it's "newer" than many homes, but it's 27 years old. What should I check?
While newer than much of Winnipeg's housing stock, a 1999 build still requires a thorough inspection. Key focuses should be on the building envelope (window and sealant lifespan), the condition of common elements like roofing and hallways, and the age/condition of in-suite mechanicals like the hot water heater.