Property Overview: 109-3907 Grant Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, well-maintained condo unit in the established Varsity View neighbourhood. Built in 1978, it offers 1,060 sqft of living space without a basement. Its standout feature is its exceptional competitive ranking within its immediate area: it surpasses nearly all comparable properties on its street and in its community for overall size, placing it in the top tier for space in a very localized context. The 2022 sale price of $270,000 significantly exceeds its current assessed value, suggesting a market perception of value beyond the municipal assessment.
The appeal lies in its efficiency and location. It suits first-time buyers seeking an affordable entry into a mature neighbourhood, downsizers looking to simplify without sacrificing space, or investors attracted by the strong relative metrics and recent transaction history. A thoughtful perspective is that while it ranks highly locally for size, its city-wide rankings for value and assessment are more modest, indicating it is a big fish in a small, desirable pond—a classic case of location-driven appeal. The lack of a garage or basement means lower maintenance but requires creative storage solutions.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in a specific area. For example, "in its community it surpasses 100% of other homes" for size means it is larger than every other listed property in Varsity View, making it a uniquely spacious option in that specific locale.
2. Why was the 2022 sale price so much higher than the current assessed value?
Municipal assessments for tax purposes often lag behind rapid market shifts. The 2022 sale likely reflects the peak market conditions of that time, while the assessment is based on a prior valuation. This discrepancy is important to discuss with a real estate professional for current pricing.
3. What are the implications of having no basement or garage?
This means all living and storage is contained on one level, which can be a benefit for accessibility and simplicity. However, it requires mindful organization for storage and means vehicles will be parked outdoors or in a possible shared lot.
4. The community ranking for "Assessment Total" is low (top 91%). Is that a concern?
Not necessarily. This indicates that, within Varsity View, many homes have a higher assessed value. This can be because they are larger detached homes. For a condo unit, this is an expected ranking and contributes to its relatively affordable tax burden within a desirable area.
5. Who is this property not suited for?
It would not suit buyers who require ample private outdoor space, dedicated parking like a garage, or the expansion potential that a basement provides. It’s best for those who prioritize location and efficient, single-level living over those additional features.