Property Overview: 112-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, low-maintenance condo unit in Elmhurst, built in 1999. With 1,242 sqft of living space, it offers a practical footprint that balances roominess with efficiency. The standout feature is its exceptional competitive ranking within its immediate community and across all of Winnipeg, placing in the top 1% of its street and top 0% of its neighborhood for overall size and value proposition. This suggests a unit that offers more space or a better configuration than the vast majority of comparable options.
Its appeal lies in a "lock-and-leave" lifestyle without the burdens of yard work or external maintenance, appealing to those seeking simplicity. The 1999 build year means it avoids the potential issues of much older buildings while being established enough for any major early-life quirks to have been resolved. It would particularly suit first-time buyers seeking an affordable entry into homeownership, downsizers looking to reduce their maintenance responsibilities, or pragmatic investors attracted by a unit with strong relative metrics in its market segment. The high community ranking hints at a desirable, well-kept building that holds its appeal against neighbors.
Frequently Asked Questions
1. What does the "top 0%" community ranking actually mean?
It means this specific unit ranks higher in combined metrics (like size and value) than every other comparable property in the Elmhurst neighborhood used in the ranking model, placing it in a very competitive position.
2. Are there any monthly condo fees, and what do they cover?
This information is not provided in the current details. A critical next step is to request the condo corporation's financial statements, bylaws, and reserve fund study to understand monthly fees, what they include (e.g., heat, water, building insurance, exterior maintenance), and the health of the building's finances.
3. Why is the assessed value relatively low compared to its high rankings?
The assessed value is for municipal taxation purposes and often lags behind the current market. Its high ranking suggests it may offer more value-per-dollar or better features than similarly priced units, which could be an advantage in the market.
4. What is the parking situation?
The listing notes no private garage. It is essential to clarify if there is dedicated surface parking, a titled underground spot, or only visitor/street parking available.
5. What are the rules around rentals or renovations?
As a condo, the corporation will have specific bylaws. You must review these to understand if renting the unit is permitted, if there are restrictions on flooring materials or alterations, and any rules regarding pets or use of common areas.