This is a 966 sqft condominium located in the Elmhurst neighborhood, built in 1993. Its primary appeal lies in its exceptional value and competitive positioning within its immediate area. While modest in size and without features like a garage or basement, the unit ranks in the top 0% of properties across both the entire Elmhurst community and all of Winnipeg for its lot size, indicating a potentially favorable condo fee structure or building footprint. It appeals to practical, value-focused buyers such as first-time homeowners, downsizers, or investors seeking an affordable entry into the Winnipeg market. The building’s 33-year age suggests established infrastructure, and its strong rankings for age within the neighborhood (top 10%) imply it is relatively newer than many surrounding properties. A thoughtful perspective is that this property represents a pragmatic choice over a premium one, offering the benefits of homeownership without the maintenance burdens of a house, suited for someone whose priority is financial efficiency and location within a well-ranked community.
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What do the "top 0%" rankings actually mean?
They indicate this unit's lot size is larger than that of every other comparable property used in the ranking for both Elmhurst and Winnipeg. In practical terms, this often correlates with lower condo density or more favorable common element arrangements.
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The assessment value seems low. Is this a concern?
Not necessarily. The assessed value of $190,000 is below the area average, which can mean a relatively lower property tax burden. It reflects the assessor's valuation for tax purposes, not necessarily the current market price.
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Who would this property not suit?
It would not suit buyers requiring significant space, private outdoor areas, or garage parking. It's also less ideal for those seeking a brand-new, feature-rich build.
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The living area ranks lower than the lot size. Why is that?
The 966 sqft interior is compact compared to the overall property footprint. This suggests the building design may prioritize fewer units or more common space over large individual suites, which can contribute to a sense of community and lower per-unit costs for exterior maintenance.
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What should I investigate about the condo corporation?
Given the building's age, it is crucial to review the status certificate, reserve fund study, and minutes from recent board meetings. This will reveal the financial health of the corporation and any planned major repairs or special assessments.