Property Overview: 501-1976 Portage Avenue
Section 1: Key Characteristics & Appeal
This condominium at 501-1976 Portage Avenue presents a practical, value-oriented opportunity in Winnipeg's Bruce Park neighbourhood. Built in 1995, it is notably newer than most comparable homes in its immediate area, offering modern building systems and potentially lower maintenance concerns. With 1,161 square feet of living space, it provides above-average roominess for both its street and neighbourhood context, appealing to those seeking more space without a detached home.
Its primary appeal lies in its strong positional value. The data indicates it outperforms most peers on Portage Avenue and in Bruce Park for both year built and living area, suggesting a well-sized, contemporary unit in a established area. The sold price from 2023 was above average for similar properties on the same street, reflecting this desirability. It would suit a first-time buyer, a downsizer, or an investor looking for a straightforward, relatively modern condo with a sensible layout. The lack of a garage or basement points to a buyer prioritizing interior space and simplicity over additional storage or utility rooms.
A less obvious perspective is the balance it strikes: it offers newer construction in an older, settled neighbourhood, which can mean fewer immediate big-ticket repairs compared to a century home, while still providing the community feel of a mature area. Its "around average" assessed value citywide suggests it's a competitively priced entry point into the Winnipeg market.
Section 2: Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this unit to similar properties in three zones: its street, the Bruce Park neighbourhood, and citywide. For example, being in the "Top 13%" for living area on its street means 87% of comparable units on Portage Avenue are smaller. This quantifies how its key features stack up against the competition.
2. Is the 1995 build date an advantage?
In this context, yes. The average comparable home on this part of Portage Avenue was built around 1979, and in Bruce Park around 1974. A 1995 build typically suggests more contemporary electrical, plumbing, and insulation standards, which can translate to efficiency and reliability.
3. Who might this property not suit?
Buyers requiring abundant private storage, a garage, or outdoor space like a yard may find it limiting. It's best for those comfortable with condo living where storage is primarily within the unit's footprint.
4. The assessed value is lower than the 2023 sale price. What does that mean?
Municipal assessed value for taxation purposes often lags behind the current market. The 2023 sale price of $28,500 is a more recent indicator of its market value. The assessment suggests its tax base is in line with city averages.
5. What is the immediate building environment like?
The listing shows several other units within the same address (1976 Portage Avenue), indicating this is a multi-unit condo building or complex. Potential buyers should inquire about the condo corporation's health, fees, rules, and the makeup of neighbours.