Property Overview
This is a compact, 569 sqft condo unit at 9-716 Corydon Avenue in Winnipeg's Earl Grey neighbourhood. Built in 1956, it represents one of the more modest and affordable entry points into the Corydon area. Its appeal lies in its location and price point. While the living space is well below average for the city, the very low assessed and recent sale prices offer a unique opportunity for specific buyers. This property would suit a minimalist first-time buyer, an investor looking for a straightforward rental in a high-demand corridor, or someone seeking a low-cost foothold in a popular area without the maintenance of a house. A less obvious perspective is that its older building age and smaller size might result in proportionally lower utility costs and property taxes, preserving monthly affordability beyond just the purchase price.
Key Details & FAQs
- Living Space: 569 sqft.
- Year Built: 1956.
- Recent Sale Price (Oct 2024): $12,500.
- Assessed Value: $12,800.
1. What does the "Top 92%" ranking for living area mean?
It means this unit's square footage is in the bottom 8% compared to similar properties on Corydon Avenue. Essentially, it's a smaller-than-average unit for the area.
2. Is the low sale price a red flag?
Not necessarily. It primarily reflects the unit's very modest size and older building age. It aligns closely with the low assessed value, suggesting it's market-appropriate for what it is, rather than being distressed.
3. What are the advantages of such a small condo?
The main advantages are affordability and ease of maintenance. It allows for ownership in a desirable location with minimal upkeep, potentially appealing to those looking to downsize or keep housing costs as low as possible.
4. What should I investigate further given the building's age?
Prospective buyers should thoroughly review the condo corporation's status certificate, focusing on the reserve fund health and any recent or planned special assessments. Understanding the building's maintenance history and upcoming major repairs (like roofing, windows, plumbing) is crucial.
5. Who might this property not suit?
It would likely not suit buyers needing space for a home office, guests, or a growing family. Those seeking modern finishes, in-suite laundry, or extensive amenities may also find it lacking. It's a functional space for a specific, low-footprint lifestyle.