Property Overview & Key Characteristics
This condominium at 229-500 Cathcart Street in Winnipeg's Elmhurst neighbourhood presents a modern, low-maintenance living option. Built in 2000, its primary appeal lies in a compelling combination of relative newness and established value. The 1,358 sqft unit ranks exceptionally well for its age within its immediate area, being newer than 99% of homes on its street. Its spacious interior is also larger than most comparable units nearby.
The standout feature is its remarkable statistical ranking. The property places in the top 1% of its street and the top 0% of both its community and all of Winnipeg for its lot size, which for a condo typically refers to its proportionate share of the land. This suggests a well-situated building with less density than many other complexes. It suits first-time buyers seeking a move-in-ready space without yard work, downsizers looking to lock in housing costs, or pragmatic investors attracted by the strong fundamental rankings versus its assessed value. The appeal is grounded in data-driven value and modern convenience over ornate character.
Frequently Asked Questions
1. What do the "rankings" actually mean?
They are percentile rankings comparing this specific unit against other houses in its street, community (Elmhurst), and all of Winnipeg. For example, ranking in the "top 0%" for land area means it surpasses 100% of compared properties, indicating it is on the larger end of the spectrum for a condo share.
2. Why is the assessed value ranking lower than others?
The assessment ranking shows this unit's value is modest compared to others in the area. While it ranks highly for size and newness, its assessed value is in a lower percentile. This could indicate a potential value opportunity for buyers, as the unit offers desirable characteristics at a relatively lower tax valuation.
3. Is "no basement" a disadvantage?
It depends on your needs. It means zero maintenance or concerns about a basement, but also no additional storage or utility space. This aligns perfectly with a true low-maintenance lifestyle but requires mindful organization within the 1,358 sqft living area.
4. Who is responsible for exterior maintenance and repairs?
As a condominium, the corporation is responsible for the building exterior, common areas, and major structural elements. Owners pay a monthly fee for this, which covers amenities, building insurance, and reserve funds for future repairs.
5. The build year is 2000 – what should I check regarding its age?
A building from 2000 is past its initial warranty period but is still relatively modern. A key focus should be on the health of the condominium reserve fund study to ensure major upcoming repairs (like roofing, paving, or balcony refurbishments) are adequately funded, preventing special assessments.