Property Overview: 4-204 Day Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a 750 sqft condominium in Winnipeg's Melrose neighbourhood, built in 2008. Its key characteristics present a distinct value proposition. The unit is notably compact, ranking at the lower end for living space compared to both its immediate street and broader area. Similarly, its municipal assessed value is among the lowest on its street and in Melrose. However, its 2008 build date is a significant advantage, making it the newest building on Day Street. This combination results in a property with very low property tax obligations due to its low assessment, yet with the modern benefits of a relatively recent construction, such as potentially updated building systems and materials.
The appeal lies in its efficiency and affordability. It suits first-time buyers or investors seeking an entry point into the market with minimal tax overhead. It would also fit downsizers or single occupants who prioritize low carrying costs and newer construction over square footage. A less obvious perspective is its potential as a "set-and-forget" investment property, where the low taxes improve cash flow, and the newer build may reduce near-term maintenance concerns compared to much older stock.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's characteristics, including its smaller square footage. It ranks at the bottom of its local area for value, which directly translates to lower annual property taxes.
2. What does it mean that the building is "Elite" for year built on its street?
This statistical ranking indicates that this specific building, constructed in 2008, is the newest among the 20 comparable properties on Day Street. It suggests a relative advantage in building age within its most immediate context.
3. How accurate are the sold price ranges shown?
The sold price ranges are estimates based on publicly available data. To obtain the exact historical sale price, you must request it via email. The service is manual, with a promise of a reply by the end of the same day and no unsolicited marketing.
4. Who would this property not be suitable for?
It would likely not suit buyers who need multiple bedrooms, dedicated workspace, or ample storage, as the living area is significantly below the neighbourhood average. Families or those who frequently entertain at home might find the space limiting.
5. Where can I see this property in context with its neighbours?
You can use the provided link to "Open neighbourhood map analysis." This tool allows you to view the property on a map alongside nearby houses and compare details like year built, living area, and assessed value in detail.