Property Overview
This 840 sqft condo at 1609-15 Kennedy Street in Broadway-Assiniboine presents a specific, value-oriented opportunity. Built in 1980, its primary appeal lies in its exceptionally low carrying costs, underscored by a municipal assessed value of $16,800. It ranks in the top tier for newer construction on its street and offers above-average living space for its immediate neighbourhood. The unit has no basement, pool, or garage.
The profile suits a very particular buyer: investors seeking a minimal-cost rental asset, or first-time buyers prioritizing the lowest possible entry point into the Winnipeg market over modern finishes or amenities. Its appeal is financial rather than aesthetic, offering a chance to build equity with very low property tax and mortgage payments. A thoughtful perspective is that this could serve as a practical "base camp" for someone who lives minimally and prefers to spend their resources on experiences rather than on a large home. However, buyers should be prepared for potential special assessments common in older buildings and consider that the very low value may reflect significant deferred maintenance or upcoming capital projects.
Frequently Asked Questions
1. Why is the assessed value so low?
Extremely low assessed values in condo buildings often reflect the age of the property (46 years), the overall maintenance status of the building, and potentially smaller unit sizes. It typically indicates very low annual property taxes.
2. What does the ranking data mean?
The rankings compare this property against others on its street, in Broadway-Assiniboine, and across all Winnipeg. For example, ranking in the top 1% for living area on its street means this unit is larger than 99% of its immediate neighbours, which is a relative advantage.
3. What are the monthly condo fees, and what do they cover?
This critical information is not provided in the available data. A direct inquiry to the listing agent or property manager is essential to understand the monthly fees and what utilities, repairs, or amenities are included.
4. What was the condition of the building at the time of the last sale?
The property last sold in September 2020 for $16,300. The sale price being close to the current assessed value suggests the market has stabilized for this unit, but it does not detail the building's physical or financial health at that time.
5. Are there any pending special assessments?
This is a vital question for any older condo. A review of the corporation's status certificate is mandatory to uncover any levied or planned special assessments for major repairs (e.g., roof, windows, plumbing), which could significantly impact affordability.