Property Summary: 221-500 Cathcart Street, Winnipeg
Key Characteristics & Appeal
This condominium at 221-500 Cathcart Street in Elmhurst presents a highly efficient and low-maintenance living option. Its primary appeal lies in its modern build year (2000), which places it among the newer properties in its immediate area and across Winnipeg, suggesting potentially fewer major maintenance concerns in the near term. The 1,142 sqft layout offers a comfortable amount of space for a condo.
The standout feature is its exceptional competitive positioning within its community and the broader city. It ranks in the top tier for its size relative to both the Elmhurst neighborhood and all of Winnipeg, indicating it offers more square footage than the vast majority of comparable units. This makes it a space-efficient value proposition. The unit would suit first-time buyers seeking a modern, move-in-ready home without yard work, downsizers looking to maintain generous living space with minimal upkeep, or pragmatic investors attracted by a relatively new asset with strong fundamentals in its class. A less obvious perspective is that its high ranking for size but more moderate assessment value could represent a strategic entry point into a well-regarded neighborhood, offering the perks of the area without the premium single-family home price tag.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this unit compares to others. For example, its size ranks in the top 0-1% locally, meaning it's larger than nearly all other condos/apartments in Elmhurst and Winnipeg. Its newer build year also places it high, while its assessed value ranks lower, indicating it may be viewed as more affordable relative to many other properties.
2. Is there a garage or parking?
The listing specifies "Garage: 无," which means there is no private garage. Prospective buyers should inquire with the condominium corporation about dedicated parking spots, visitor parking, or street permit availability.
3. What are the monthly condominium fees, and what do they cover?
This critical information is not listed here. You will need to obtain the condo corporation's financial statements and bylaws to understand the monthly fees, what utilities or amenities they include (like heat, water, common area maintenance), and the health of the reserve fund.
4. Why is the assessed value ranking lower than the size ranking?
This is not uncommon. A high size ranking means the unit is physically larger than most. A lower assessment ranking can be influenced by many factors, including interior condition, specific location within the complex, current market trends, and the overall value proposition of the condo format versus single-family homes in the area. It often highlights a difference between municipal assessment and market value perception.
5. What is the building's condominium corporation like?
This is a key question for any condo purchase. You should review recent meeting minutes, study the reserve fund report to see if it's adequately funded for future repairs, and understand any existing or pending special assessments. This helps gauge the financial health and management quality of the building.