Property Overview & Appeal
This condominium at 232 Waterfront Drive is a standout property defined by its exceptional space and premium valuation. Its primary appeal lies in its generous 2,113 sqft living area, which places it in the top 3% of homes on its street, the top 2% within Winnipeg's historic Exchange District, and the top 1% city-wide. This substantial size is a rare find for a condo, offering the spaciousness more typical of a detached home. With an assessed value of $950,000, it occupies a similar elite tier in terms of market valuation. Built in 2006, the building is modern compared to many heritage properties in the Exchange District, offering contemporary systems and amenities without the potential maintenance concerns of an older structure.
The property suits buyers who prioritize expansive, high-end urban living over a yard. It’s ideal for empty-nesters seeking to downsize from a large house without sacrificing square footage, or for professionals desiring a prestigious, low-maintenance residence in the heart of the city. Its location on Waterfront Drive promises iconic views and a vibrant, walkable neighbourhood lifestyle. A less obvious perspective is that this condo represents a specific kind of value: you are paying a premium for space and location in a market where such large condos are exceedingly scarce, which can be a sound long-term investment in a niche segment.
Frequently Asked Questions
1. How does the 2006 build year compare to the neighbourhood?
While the building is newer than the median city-wide home, it is actually above average for the Exchange District, where many buildings are historic. This means you benefit from modern construction while being in a character neighbourhood.
2. What does the "Elite" ranking for Assessed Value mean?
It indicates the property's $950,000 assessment is among the highest percentile compared to similar properties. This generally reflects a premium market position, but it's important to review recent sale prices and market trends to understand current value.
3. Who would this property not suit?
It may not be the best fit for first-time buyers or those on a strict budget, given its premium price point. It also wouldn't suit buyers seeking a traditional backyard or those preferring a brand-new, just-built construction.
4. The last sale was in 2019 for $1,000,000. How does that relate to the current assessed value?
The assessed value ($950,000) is an estimate for municipal tax purposes, not a direct market appraisal. The 2019 sale price provides a historical data point, but a current market evaluation is necessary to determine today's listing or offer price.
5. What are the implications of such a high living area ranking?
This confirms the unit's size is a major differentiator. You are getting significantly more interior space than the vast majority of condos in Winnipeg, which often translates to higher utility costs but also greater flexibility for in-home offices, entertaining, or family living.