Property Overview: 209-500 Cathcart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-maintained, 1,249 sqft condo unit in the Elmhurst neighbourhood, built in 1999. Its primary appeal lies in its exceptional relative rankings within its immediate area. The property ranks in the top 1% of its street and top 0% of its community for lot size, indicating a spacious and potentially premium building footprint or layout compared to nearly all nearby homes. It also ranks highly for its age, being newer than 95% of homes in Elmhurst.
The unit suits practical buyers looking for a move-in-ready space in a mature, established neighbourhood. It’s ideal for professionals, downsizers, or first-time buyers who prioritize a sense of value derived from superior standing within a specific locale over a brand-new build. The 2021 sale history provides a clear recent benchmark for value. A thoughtful perspective is that these strong rankings suggest a building or complex that has aged well and remains desirable in its micro-market, offering a form of stability that isn't always apparent from raw data alone.
Section 2: Frequently Asked Questions
1. What do the "rankings" actually mean?
They are relative performance indicators. For example, ranking in the top 1% for lot size on its street means this property's lot/building footprint is larger than 99% of the 198 comparable properties on Cathcart Street, suggesting a spacious setting.
2. Why is the assessed value higher than the 2021 sale price?
This is common. The 2021 sale reflects the market at that time, while the assessment is a municipal valuation for tax purposes, often calculated using older data and mass appraisal techniques. The two figures are related but serve different purposes.
3. Is there a garage or basement?
According to the listed basics, this property has no garage and no basement. Storage and parking would be limited to what the condo complex provides.
4. Who would this property not suit?
It may not suit buyers requiring extensive private outdoor space, a garage, or a brand-new build. The rankings indicate value within its peer group, but the overall assessed value suggests it's a more affordable option in the broader Winnipeg market.
5. The community ranking for "Living Area" is lower—is the unit small?
At 1,249 sqft, it's larger than 57% of all Winnipeg homes, so it's not small. The lower community ranking (top 63%) simply means that within the specific Elmhurst area, there are many homes with even larger square footage, which is typical of established neighbourhoods with diverse housing stock.