Property Overview: 205-3420 Grant Avenue
Key Characteristics & Appeal
This is a 966 sqft condominium located in the Elmhurst area of Winnipeg, built in 1993. The unit has no basement, garage, or private land. Its primary appeal lies in its exceptional value and competitive positioning within its immediate area. While its size and assessed value place it in the lower tiers city-wide, it ranks very highly within its specific street and neighborhood. It surpasses 98% of homes on its street and 100% within the Elmhurst community for overall value ranking, indicating it is one of the most competitively priced options in this locale. A 2023 sale at $200,000, closely aligned with its current $199,000 assessment, suggests a stable and transparent market value.
This property would suit first-time buyers or investors seeking an affordable entry point into a well-established neighborhood. It’s also a practical fit for downsizers or those seeking a low-maintenance lifestyle without the responsibilities of yard work or exterior upkeep. A less obvious perspective is its appeal to a data-driven buyer who appreciates its strong relative performance against immediate comparables, even if its city-wide metrics are modest. It represents a "best-in-class" value within its specific micro-market.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in three areas: its street, the wider Elmhurst community, and all of Winnipeg. For example, being in the "top 2%" on its street for value means it is priced more competitively than 98% of its direct neighbors.
2. Are there any monthly condo fees?
The provided details do not include this critical information. Any offer should be conditional on a review of the condo corporation's financial statements, reserve fund study, and bylaws to understand monthly fees and rules.
3. Why is the city-wide ranking much lower than the local ranking?
This is common for smaller, older condos without premium features. It highlights that this property's standout value is hyper-local. It may not be a top-tier property across the entire city, but it is a leading option within Elmhurst and on Grant Avenue.
4. What are the potential downsides of no garage?
Residents will rely on street or surface parking. This means dealing with winter snow clearing regulations, less security for vehicles, and no private storage space for tools, bicycles, or seasonal items.
5. The build year is 1993. What should I be concerned about?
While not a new build, a 33-year-old building should have had major systems updated. An inspection is crucial to check the condition of the roof, windows, plumbing, and electrical systems. The health of the condo corporation's reserve fund for these future repairs is equally important.