Property Summary: 205-500 Cathcart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a well-maintained, second-floor condominium in the Elmhurst neighbourhood, built in 1999. With 1,142 square feet of living space, it offers a practical layout for comfortable daily living. The property's standout feature is its exceptional competitive positioning within its immediate area. It ranks in the top 1% of homes on its street and the top 5% within the broader Elmhurst community for its newer construction age, suggesting a building that has aged well compared to many nearby alternatives. Recent sale history shows steady value appreciation.
Its primary appeal lies in offering a modern, low-maintenance lifestyle in an established area. Without a basement, garage, or private yard upkeep, it suits buyers seeking simplicity and freedom from exterior chores. The unit would particularly suit first-time buyers, downsizers, or investors looking for a turnkey property with a strong track record in a mature community. A thoughtful perspective is that this condo represents a "sweet spot" – it’s not the newest build, but its age places it ahead of most local stock, potentially offering better build quality and settled strata finances than much older buildings, without the premium price of a brand-new unit.
Section 2: Frequently Asked Questions
1. What do the ranking percentages mean?
They show how this property compares to others in the area. For example, ranking in the "top 1%" for its street means it surpasses 99% of other homes on Cathcart Street in that specific metric, such as size or age.
2. Are condo fees included in the price details?
No, the provided price history and assessed value are for the unit only. Prospective buyers must obtain current monthly condo fee information and budget for that ongoing cost.
3. Why is the assessed value higher than the 2023 sale price?
Municipal assessments for tax purposes often lag behind current market conditions and can differ from actual market value. The 2023 sale price is the most concrete indicator of its recent market worth.
4. What does "no basement" imply for storage?
All storage must be accommodated within the 1,142 sqft unit layout. Buyers should consider their storage needs and inquire about any additional locker or shared storage space the condo corporation may provide.
5. The community rank for "Assessment" is lower. Is this a concern?
Not necessarily. The low rank (top 92%) means the unit's assessed value is higher than only 8% of homes in Elmhurst, which is typical for a condo among a mix of property types. Its stronger rankings in age and street position are more specific indicators of its condition and desirability within its building type.