Property Overview: 217-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, 1,115 sqft condo unit built in 2000, located in the Elmhurst neighborhood. Its primary appeal lies in its exceptional competitive standing within its immediate surroundings. The property ranks in the top 1% of its street and the top 0% of its entire community for overall size, indicating it offers more space than nearly all comparable nearby units. It is also a relatively modern build, newer than 99% of other homes on its street.
The unit presents a practical, low-maintenance lifestyle with no basement or garage to manage. It suits first-time buyers seeking an affordable entry into the Winnipeg market with above-average space for a condo, or downsizers looking for a comfortable, manageable home without sacrificing roominess. The 2017 sale history provides a clear, recent benchmark for value. A thoughtful perspective is that this property represents a "best-in-class" option within its specific building and block, offering a sense of relative value and scarcity in its micro-location that isn't apparent from city-wide data alone.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in a specific area. For example, ranking in the "top 1%" for size on its street means it is larger than 99% of the other 257 homes on Cathcart Street, making it a notably spacious option in that direct location.
2. Why is the assessed value ranking lower than the size ranking?
The assessed value is compared to all properties, including larger single-family homes. While this condo is very spacious for a condo on its street, its absolute value is understandably lower than many larger property types in the same area, which affects its percentile ranking for price.
3. Is the lack of a garage or basement a significant drawback?
This depends on lifestyle needs. It eliminates maintenance and storage costs for those spaces but means all storage must be accommodated within the unit's 1,115 sqft footprint or through a potential locker. It appeals to those prioritizing simplicity.
4. What does the building type being listed as "—" indicate?
The information is not specified in the provided data. A prospective buyer should confirm the exact condominium structure (e.g., low-rise, townhouse style) and its associated fees, rules, and amenities through the listing agent or property manager.
5. How should I interpret the 2017 sale price in today's market?
The 2017 sale of $224,000 provides a historical anchor, showing the property's market value at that time. Current value will be influenced by market conditions over the last 7 years, updates to the unit, and the building's financial health. It is a starting point for research, not a current valuation.