Property Summary
Key Characteristics & Appeal
This is a well-maintained condo unit in Elmhurst, built in 1999. With 1,077 sqft of living space, it offers a practical layout for comfortable living. Its standout appeal lies in its exceptional relative rankings within the community and city. The property ranks in the top 1% of its street and the top 5% of its neighborhood for age, indicating it is among the newer and likely more modern builds in the area. This creates a compelling value proposition for a buyer seeking a contemporary living space in an established neighborhood without the premium price tag of a brand-new build.
The unit would suit first-time buyers or downsizers looking for a low-maintenance lifestyle, as it is a condo with no basement or garage to upkeep. It’s also an attractive option for value-focused investors or owner-occupants who prioritize statistical value—owning a property that outperforms a vast majority of its local peers on key metrics like age and overall community standing, even if its size and assessed value are more modest in the broader market.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in the immediate area. For example, ranking in the top 1% for its street means it outperforms 99% of other homes on Cathcart Street in that specific category, such as being newer than almost all of them.
2. There's no garage or basement. Where is storage handled?
As a condo unit, storage solutions will be specific to the building and unit layout. Prospective buyers should inquire about in-suite storage closets, and whether the condo corporation offers access to a shared storage locker or bicycle room.
3. The assessed value seems low relative to the high rankings. Why?
Property assessment is based on many factors, including recent sales and square footage. The high rankings in age and community standing highlight its relative desirability within its immediate context, which may not be fully reflected in a mass appraisal figure. It often indicates a well-positioned property within its specific market segment.
4. Who is responsible for exterior maintenance and repairs?
This is a key question for any condo. The condo corporation is typically responsible for the building exterior, roof, common areas, and grounds. Owners pay a monthly fee for this, so understanding the fee, what it covers, and the health of the corporation's reserve fund is essential.
5. What is the neighborhood vibe like in Elmhurst?
Elmhurst is a mature, established neighborhood. Its high rankings suggest this specific street and section are particularly well-regarded. Buyers should visit at different times to get a feel for the community atmosphere, proximity to amenities, and overall noise and traffic levels.