Property Overview: 704-3030 Pembina Highway
Section 1: Key Characteristics & Appeal
This is a 725 sqft condo apartment in Fort Richmond, built in 1977. Its defining characteristic is its exceptionally low assessed value, which ranks in the bottom 5% of similar properties city-wide. This translates to very low property taxes, a significant and ongoing financial advantage. The living space is modest and below average in size for the area, positioning this as a pragmatic, entry-level property.
The appeal lies squarely in affordability and location. It offers a foothold in a well-established neighbourhood near the University of Manitoba, with the convenience of a major transit corridor on Pembina Highway. It suits budget-conscious first-time buyers, investors seeking a low-cost rental property with a favourable tax burden, or downsizers prioritizing minimal carrying costs over space. A less obvious perspective is its potential as a "financial basecamp"—a ultra-low-cost ownership option that frees up income for other investments or life expenses. It’s a practical choice, not a luxury one.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other condos?
Extremely low assessments are often tied to specific factors like the unit's size, location within the building, and the overall financial health (reserve fund) and maintenance status of the condominium corporation. It warrants a careful review of the condo documents.
2. What are the condo fees, and what do they cover?
This is the critical next question. The listed price and taxes are only part of the cost. Understanding the monthly condo fee and what it includes (heat, water, building insurance, etc.) is essential to gauge true affordability and value.
3. How does the 1977 build year affect the unit?
While the building is older, its systems and common elements may have been updated over time. The condition of in-suite features like windows and plumbing, as well as the age of major building components like the roof and elevators, should be investigated.
4. What is the noise level like facing Pembina Highway?
Units on Pembina Highway experience traffic noise. The impact depends on the floor level, window quality, and personal sensitivity to sound. This is a key consideration for livability.
5. What do the recent sale prices indicate?
The historical sale price ranges show the unit has transacted at values consistent with its low assessment. This pattern suggests the market consistently views this as a budget-oriented property, not one undergoing rapid appreciation.