Property Overview: 3-303 Leola Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, no-basement condo unit in Winnipeg's Kern Park neighbourhood. Its defining characteristic is its exceptionally low cost of entry, reflected in both its modest size (265 sq ft) and its very low assessed value ($5,900). Built in 1958, it is one of the older units on its street. The appeal lies almost entirely in its affordability and function as a bare-minimum housing solution. It is the most affordable unit in its immediate area and ranks among the very lowest in assessed value city-wide.
This property would suit a very specific buyer: someone seeking the absolute lowest possible purchase price to gain a foothold in the market, an investor looking for an ultra-low-cost rental unit, or possibly someone needing a minimal, utilitarian city space. It is not suited for those requiring space, modern amenities, or who plan to live in it with others. A thoughtful perspective is that, while its metrics are at the bottom of nearly every ranking, this presents a unique opportunity for budget-focused strategies where the monthly carrying costs are the primary—and perhaps only—concern.
Section 2: Frequently Asked Questions
1. What does the ranking "12 of 12" mean for Living Area and Value?
It means this unit is the smallest and has the lowest assessed value compared to the 12 comparable properties on Leola Street. It is at the absolute bottom of its immediate peer group for size and official valuation.
2. Is there a recent sale price available?
An exact sale price is not publicly listed. Available data indicates it last sold between February 2016 for a price in the range of $4,500 to $7,500. The current assessed value is $5,900.
3. What are the monthly condo fees, and what do they cover?
This information is not provided in the available data. This is a critical question to ask the listing agent or property manager, as fees can significantly impact the total affordability of a low-value unit.
4. How does the 1958 build year affect the unit?
While it's one of the older buildings on its street, its age is typical for the immediate area. The main considerations will be the condition of major building systems (roof, plumbing, wiring) and whether the condo corporation has a healthy reserve fund for future repairs, which due diligence should uncover.
5. Could this be used as a rental property?
Given its ultra-low purchase price, it could be attractive for rental investment. Success would depend heavily on the monthly condo fees, the building's rules on rentals, and the achievable rent in the Kern Park area relative to those total costs.