Property Overview
This 1,073 sqft condo at 9-480 Chalfont Road in Winnipeg's Elmhurst neighbourhood presents a compelling mix of space, value, and location. Built in 1997, it features a renovated basement, adding to its functional living area. The appeal here is rooted in its strong value proposition within a well-established area. While its size is average for the immediate street and neighbourhood, its assessed value tells a different story: it ranks within the top 7% in Elmhurst and the elite top 5% citywide. This suggests the property is recognized as a high-value asset compared to a broad market, potentially offering more house for the dollar within its condo category. It would suit practical buyers looking for a spacious, move-in-ready condo without a premium price tag, as well as value-focused investors attracted by its above-average assessment metrics in a stable community.
Frequently Asked Questions
1. What does the "elite" citywide assessment ranking actually mean?
It means this property's official assessed value is higher than approximately 95% of all comparable properties across Winnipeg. This doesn't dictate market price, but it strongly indicates the municipality views it as a well-above-average asset for its type.
2. Is the living space considered small?
At 1,073 sqft, it's slightly below the neighbourhood average but firmly in the average range both for the street and citywide. The renovated basement effectively adds to the usable space, making the overall footprint feel more generous than the square footage alone might suggest.
3. The home last sold in 2019. Should I be concerned?
Not necessarily. A five-year ownership period is fairly typical and suggests stability. It indicates the current sellers are likely moving for life reasons rather than a quick turnover, which can be a positive point about the property and complex.
4. There are several units at 480 Chalfont Road. Is this a large complex?
The listing shows multiple units at the same address (e.g., 1-480, 2-480). This is likely a townhouse or condo complex, not a single apartment building. This often means a smaller, more community-oriented setting with shared exterior maintenance.
5. How does the 1997 build year affect the property?
Built 29 years ago, this is one of the newer homes on its specific street. For a buyer, this typically means modern construction standards, likely with fewer major system updates (like roof or windows) immediately due compared to much older homes, but potential for components like appliances to be nearing their lifespan.