Property Overview & Key Characteristics
This is a 966 sqft condominium located in Winnipeg's Elmhurst neighbourhood, built in 1993. Its primary appeal lies in its exceptional value and low-maintenance lifestyle within a well-established area. The unit ranks in the top tier for its size within its immediate street and shows strong rankings for its age within the broader community, suggesting it is a well-kept, modernized option among older peers. With no basement or garage, it suits buyers seeking a simplified, efficient living space without exterior upkeep responsibilities.
The property is ideally suited for first-time buyers, downsizers, or investors looking for an affordable entry into the Winnipeg market. Its strongest rankings are in location-based metrics, placing in the top 2% on its street and top 0% within both Elmhurst and all of Winnipeg for its lot area, indicating a desirable and potentially premium position within the condo complex or immediate surroundings. This presents a compelling case for a cost-effective home in a sought-after spot, rather than a feature-rich property.
Five Frequently Asked Questions
1. What do the "rankings" actually mean?
They are relative comparisons. For example, ranking in the "top 0%" for lot area in Elmhurst means this unit's lot size is larger than 100% of compared properties in the neighbourhood, suggesting it may have a better-than-average patio, balcony, or grounds placement within the condo community.
2. Are there any major costs or assessments upcoming?
The provided data does not include condo fee details or the status of the reserve fund. This is a critical question for your realtor to ask, as it directly impacts monthly carrying costs and potential for special assessments.
3. Why is the assessed value relatively low compared to the rankings?
The assessment is for taxation purposes and may not reflect current market value. Its lower percentile ranking (top 90%) compared to its stellar location rankings (top 0%) could indicate the unit is modestly finished or that assessments in this complex haven't caught up to location desirability, potentially representing a value opportunity.
4. What does "no basement" imply for storage?
With 966 sqft of living space and no additional basement storage, the unit's built-in storage solutions and layout efficiency are key. Buyers should pay close attention to closet space and whether there is a designated locker or additional storage area in the building.
5. How does the 1993 build year affect the property?
Homes from this era typically have modern wiring and standards. However, being 33 years old means major components (like windows, roof of the building, appliances) may be nearing or past their typical lifespan. The condition and replacement history of these items, managed through the condo corporation, will be important.