Property Overview: 110-500 Cathcart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-maintained, late-90s condo unit in Elmhurst, offering a practical and low-maintenance lifestyle. Its primary appeal lies in its exceptional competitive standing within its immediate area. The property ranks in the top 1% of its street and the top 0% of its neighborhood and all of Winnipeg for its overall value proposition, indicating it is a highly efficient use of space relative to its peers. With nearly 1,100 sqft of living space, it provides ample room for a comfortable life without the upkeep demands of a house.
The unit suits first-time buyers seeking an affordable entry into the market with strong fundamentals, or downsizers looking to lock in predictable costs and eliminate exterior maintenance. A thoughtful perspective: its high overall rankings despite a modest assessment value suggest it may represent a "smart buy" in its category—offering more perceived value and livability per dollar than many comparable options. Its 1999 build year means it's modern enough to avoid major imminent system renewals, yet established within a mature community.
Section 2: Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this unit compares to other properties in specific geographic areas. For example, ranking in the "top 0%" for the neighborhood means it outperforms 100% of comparable listings in Elmhurst on the combined metrics the site uses, which heavily weight its efficient use of space and value.
2. Is there a condo fee, and what does it cover?
This information is not provided in the available data. Any offer should be conditional on reviewing the condo corporation's status certificate, which details monthly fees, included utilities, the reserve fund, and rules.
3. Why is the assessed value relatively low compared to its high rankings?
The high rankings are based on the balance of features (like age and size) against price. The lower assessment can be a double-edged sword: it may indicate lower property taxes, but it could also reflect the building's specific location within the complex or current market evaluations. It underscores the importance of a professional appraisal.
4. What are the practical implications of having no garage?
Residents rely on street or surface lot parking. You should inquire about dedicated parking spots or permits, and observe parking availability during different times to assess convenience, especially in winter.
5. The build year is 1999. Are there any major repair concerns?
While major structural issues are unlikely, buildings of this age may be approaching the point where common elements like roofing, windows, or balconies require significant capital projects. The status certificate and a review of the reserve fund study are crucial to understand future fee stability.