Property Overview: 1-40 Quail Ridge Road, Heritage Park, Winnipeg
Key Characteristics & Appeal
This condominium at 1-40 Quail Ridge Road stands out for its modern foundation and exceptional value metrics within its immediate community. Built in 2014, it is a notably newer construction compared to most homes on its street and in the Heritage Park area, where average build years are from the late 1970s. This suggests a property with likely fewer major maintenance concerns and modern building standards.
Its primary appeal lies in its generous living space and strong assessed value. At 1,142 sqft, the living area ranks in the top 1% on its street and top 11% in Heritage Park, offering more room than typical local comparables. The assessed value of $31,600 is elite for the local area, ranking in the top 1% against nearby homes, yet remains above average city-wide. This indicates you are acquiring a premium asset within a specific, desirable context. The property features a basement, though it is noted as not renovated.
This home would best suit a value-conscious buyer looking for a modern, spacious condo in a well-established neighborhood. It’s ideal for someone who prioritizes move-in readiness from a systems and structure perspective, appreciates space, and sees the value in owning a top-tier property within its micro-market. The unrenovated basement presents a clear opportunity for a buyer to add personal value.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
Public data shows a sale in September 2023 in the range of $30,500 to $33,500, which aligns closely with the current $31,600 assessed value. This suggests a stable and transparent valuation.
2. What does the "top 1%" ranking for value locally really mean?
It means that compared to similar properties on Quail Ridge Road and in Heritage Park, this unit’s assessed value is higher than 99% of them. This often reflects its newer age, larger size, and the overall desirability of this specific property within the community.
3. Is the basement usable?
The listing confirms a basement exists but specifies it is "not renovated." This means the space is present and likely functional for storage or utilities, but it may require investment to finish it as a living area.
4. The home is newer, but what about the building itself?
Built in 2014, the entire structure is relatively young. Prospective buyers should still review the condo corporation's reserve fund study, financial health, and meeting minutes to understand the building’s maintenance status and any planned major projects.
5. Why is there a range for the past sold price instead of an exact figure?
The exact sale price is proprietary data. The provided range is based on public market analytics. You can request the precise figure directly from the site via email, which they provide as a manual, no-spam service.