210-411 Cumberland Avenue

Property Overview

This is a compact, 374 sqft unit within a multi-unit building at 411 Cumberland Avenue in Winnipeg's Central Park neighbourhood. Built in 1963, it represents a highly affordable entry point into the market, with a recent sale price of $7,300 and a low annual property tax burden due to its assessed value of $6,700. The unit has no basement, pool, or dedicated garage.

Key Characteristics & Appeal

The primary appeal of this property is its extreme affordability and minimal ongoing tax cost, making ownership accessible with a very modest financial footprint. Its small size and low maintenance requirements could suit a first-time buyer seeking a straightforward investment property, or someone looking for a minimalist, cost-contained personal living space in a central location. A less obvious perspective is its potential as a "footprint play" in a building that, according to the data, is one of the oldest and most established on its street and in Central Park. While the unit itself is below average in size and value for the city, it exists within a building that ranks in the top 1% for age (indicating historic character) on its block. This could appeal to a buyer interested in the long-term redevelopment potential of the area, where owning any strata within an older, central building might be the key consideration.

Frequently Asked Questions

1. What does the ranking data actually mean?
The data compares this unit to "comparable homes" in three areas: its street, the Central Park neighbourhood, and citywide. For example, its 1963 build date makes it among the oldest 1% of comparable units on Cumberland Avenue, but its size and value are below average across all comparison groups.

2. Who would this property suit best?
It would most practically suit an investor looking for a low-cost rental asset, or a very budget-conscious individual who prioritizes low fixed costs and central location over space. It is not suited for anyone requiring multiple rooms, storage, or private outdoor space.

3. What are the ongoing costs likely to be?
While the property taxes will be very low (based on the $6,700 assessment), you must budget for the monthly condominium fee, which is not listed here. This fee is critical for understanding the true monthly cost and covers the building's maintenance, insurance, and potential reserve fund contributions.

4. Why is the sale price higher than the assessed value?
Assessed value is for municipal tax purposes and can lag behind the current market. The sale price reflects what a buyer was willing to pay in the open market, which in this case was slightly above the city's assessment.

5. What should I investigate before considering an offer?
Essential next steps include: reviewing the condominium corporation's financial health, reserve fund status, and meeting minutes; understanding the rules and any restrictions; and getting clarity on what the monthly fee includes (e.g., heat, water, building insurance).