Property Overview
This 1,073 sqft condo at 17-480 Chalfont Road in Winnipeg’s Elmhurst neighbourhood presents a specific and compelling value proposition. Built in 1997, it features a renovated basement. Its primary appeal lies in a significant disparity: while its living space is average for the area, its assessed value is notably high compared to local and city-wide benchmarks. This suggests a unit that is well-maintained and financially recognized within a stable, mature condo complex. It would suit a practical buyer looking for a turn-key, low-maintenance home in a central location, particularly someone who values municipal assessment as an indicator of property standing over sheer square footage. It’s also a sensible option for those entering the condo market, offering more modern construction than many city-wide alternatives without the premium of a brand-new build.
Key Details & FAQs
Key Characteristics & Appeal
- Type & Space: A condo with a renovated basement, offering 1,073 sqft of living area. This places it around the average size for similar properties on its street, in Elmhurst, and across Winnipeg.
- Financial Standing: The standout feature is its assessed value of $45,600. This is around average for Chalfont Road but places it in the top 8% in Elmhurst and the elite top 5% city-wide for comparable properties, indicating strong municipal valuation relative to its peers.
- Build & Context: Constructed in 1997, it is one of the newer units on its specific street. It is part of a clear cluster of similar units at the 480 Chalfont Road address.
- Ideal Buyer: This condo is well-suited for a value-conscious buyer who prioritizes financial metrics and condition over maximum space. It appeals to those seeking a move-in-ready, centrally-located home with the maintenance benefits of a condo corporation. It may also attract investors or buyers noting the strong assessed value relative to its last sale price in 2017.
Frequently Asked Questions
1. What does the high assessed value compared to the city average actually mean?
It means the municipality values this property significantly higher than most similar condos across Winnipeg. This often reflects factors like renovations, desirable location within the city, or overall condition, and can be a positive indicator of the property's official market worth, though property taxes will be based on this value.
2. Is the living space small?
At 1,073 sqft, it is not small; it is very close to the average size for condos both in the Elmhurst area (1,140 sqft avg.) and city-wide (1,042 sqft avg.). It offers standard space for a two-bedroom condo layout.
3. Who is responsible for maintenance and repairs?
As a condo, the corporation is typically responsible for major structural elements, common areas, and exterior maintenance. Owners are responsible for everything within their unit's walls. Specifics should be confirmed by reviewing the condo corporation's bylaws and financial statements.
4. The unit last sold in 2017. Is that a concern?
Not inherently. A seven-year ownership period suggests stability rather than rapid turnover. It provides a clear previous sale price ($39,600) for comparison, highlighting the appreciation in its assessed value since that time.
5. Are there other identical units in the building?
The data shows multiple units at the same 480 Chalfont Road address with the same assessed value, indicating this is part of a townhouse-style or multi-unit condo complex with several similar layouts. This can be beneficial for comparing values and understanding the community.