1-480 Chalfont Road

Property Overview & Key Characteristics

This condominium at 1-480 Chalfont Road in Winnipeg's Elmhurst neighborhood presents a compelling blend of space, value, and established community living. Its primary appeal lies in its above-average size—at 1,426 sqft, it ranks within the top 6% of similar units on its street and top 12% citywide—offering the roominess often sought in a house but within a condo format. A key, less obvious strength is its financial standing: with an assessed value of $57.60k, it sits in the top 1% of Elmhurst and top 2% citywide for comparable properties, suggesting a very strong valuation foundation relative to its peers.

The home, built in 1997, benefits from a renovated basement, adding to its functional living space. It would suit practical buyers looking for maximum square footage within the condo market, first-time buyers seeking an entry point with a proven value proposition, or downsizers wanting to maintain generous living areas without the upkeep of a detached home. Its elite assessed value ranking also makes it noteworthy for the financially minded buyer who prioritizes assets with strong comparative metrics.

Frequently Asked Questions

1. What does the "Elite" or "Top %" ranking mean for the assessed value?
These rankings compare this property directly to similar homes. An assessed value in the "Top 1%" for Elmhurst means it is valued higher than 99% of comparable condos in the neighborhood, indicating a very strong perceived market value by the municipal assessor relative to its immediate peers.

2. Is the 1,426 sqft living area typical for the area?
No, it's notably larger. The average comparable home in Elmhurst is around 1,140 sqft, placing this unit in the top 3% for size in the neighborhood. You are getting significantly more interior space than most other options.

3. The home sold recently in April 2024. What can that price tell me?
The recent sale price of $62.50k provides a concrete, current market benchmark. The data shows this price was in the "Top 1%" citywide for similar sales at that time, confirming that its market price aligns with its high assessed value ranking.

4. Are there many similar units in the immediate building or complex?
The listing shows several other units at the same address (e.g., 2-480, 3-480 Chalfont Road), indicating this is likely a multi-unit condo building or townhouse complex. This can offer a sense of consistency and community.

5. How does the 1997 build year compare?
It is average for Elmhurst and citywide, meaning the building is neither new nor historic. This often represents a sweet spot where major systems may have been updated while the structure itself is well-established, potentially resulting in fewer surprises than in much older buildings.