Property Overview
This condominium at 301-180 Tuxedo Avenue presents a compelling blend of space, value, and location. Built in 1988, it is a well-maintained unit within a mature building in the Edgeland area. Its primary appeal lies in its generous 1,620 sqft living area, which places it well above the Winnipeg average and offers a sense of spaciousness uncommon in many condos. With an assessed value of $52,600, it represents significant value, ranking in the top tier city-wide for both size and official valuation. This property suits practical buyers seeking maximum square footage without a detached home price tag, as well as those looking to downsize from a house without sacrificing considerable room. It’s a grounded choice for value-conscious investors or owner-occupants who prioritize interior space over newer building finishes, offering a cost-effective entry into a established neighbourhood.
Frequently Asked Questions
1. How does this condo’s value compare to the area?
Its assessed value is above average for the immediate Edgeland area (top 14%) and elite city-wide (top 2%), suggesting strong underlying value for its property tax base compared to most Winnipeg homes.
2. Is the building older, and what does that mean?
Yes, built in 1988. This typically means lower purchase prices relative to size and potentially lower condo fees than newer glass towers, but a thorough review of the condo corporation's reserve fund and maintenance history is essential.
3. Who would this property not suit?
It may not suit buyers seeking modern, move-in-ready interiors or the amenities of a newer build. Those prioritizing a brand-new building or a detached property should look elsewhere.
4. The last sale was in 2017 for $37,500. Is the current assessed value realistic?
The 2017 sale price reflects the market of that time. The current assessed value of $52,600 is a 40% increase, which aligns with broader market trends over seven years. It indicates perceived growth, but the true market value will be determined by current listing price and buyer demand.
5. What is less obvious about this property’s appeal?
Its appeal is quantitative: you are paying primarily for abundant interior space and solid value metrics in a stable location, not for luxury finishes or prestige. It’s a strategic purchase for maximizing utility per dollar, ideal for someone who views a home as a functional asset rather than a statement.