Property Overview & Key Characteristics
This 1,099 sqft condo at 211-500 Cathcart Street in Winnipeg's Elmhurst neighbourhood presents a practical and competitively positioned urban living option. Built in 1999, its primary appeal lies in its exceptional value ranking within the broader market. The data shows it outperforms 100% of other properties in both its immediate community and all of Winnipeg for its price-to-size ratio, indicating it offers more space for the money than nearly any comparable listing. This makes it a standout for budget-conscious buyers seeking maximum square footage.
The unit suits first-time homebuyers, investors, or downsizers who prioritize space and value over amenities like a garage or basement. Its appeal is grounded in fundamentals rather than luxury features. A thoughtful perspective is that its lower assessment and recent sale price rankings suggest it is priced accessibly in a neighbourhood where many properties are valued higher, potentially offering a more affordable entry point into the area. The strong community ranking (top 5% by building age) also indicates it sits in a well-established, mature part of Elmhurst.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this specific unit against all other houses in its street, community (Elmhurst), and all of Winnipeg. For example, ranking in the "top 0%" for value means it offers more interior space per dollar than virtually any other property in the city, which is its most compelling statistical feature.
2. Are there any major extra costs like condo fees?
The provided details do not list monthly condo fees, which are typical for most condominiums. This is a critical piece of information to request, as fees cover shared expenses and significantly impact the total monthly cost of ownership.
3. Why is the assessed value relatively low compared to other homes?
At $229,000, its assessment ranks lower than most properties in the area. This can reflect the specific building, unit condition, or market adjustments for condos versus single-family homes. It generally indicates a lower property tax burden, but it's wise to understand the reasons behind the assessment.
4. What is the neighbourhood like?
Elmhurst is a mature, central Winnipeg neighbourhood. The data shows this building is newer than 95% of homes in the community, meaning you'd be in a relatively modern building within an older, established area with likely larger lots and more greenery.
5. The last sale was in 2017 for $225,000. What does that tell us?
This indicates a stable value over several years, with the current assessment slightly above that last sale price. It suggests the market has not seen dramatic swings for this property, which could appeal to those seeking a less volatile investment.