Property Overview
This unit at 102-1002 Grant Avenue is a 770 sqft condo in Winnipeg's established Grant Park neighbourhood. Built in 1963, it presents a straightforward, low-maintenance housing option. Its primary appeal lies in its affordability and location, with a consistently low assessed value and recent sale prices that are well below citywide averages. This is a practical choice for budget-conscious buyers, such as first-time purchasers, investors seeking a rental property with lower entry costs, or downsizers prioritizing essential living space over modern finishes. It’s worth noting that while the unit's size is modest for the city, it is actually above average for the Grant Park area, suggesting the local market favours compact, efficient layouts.
A thoughtful perspective for a buyer is to weigh the lower upfront cost against the building's age. While the condo fees (not listed here) would be a critical factor, the older building could mean higher potential for special assessments, but also possibly more realistic renovation and reserve fund planning compared to newer builds. The unit’s value proposition is clear: you are trading modern amenities and square footage for a proven location and a very accessible price point.
Frequently Asked Questions
1. What does the "below average" ranking for Assessed Value actually mean?
It means this unit's municipal assessed value is consistently lower than most comparable properties—on its street, in Grant Park, and across Winnipeg. This typically translates to lower property taxes, which is a financial advantage for the owner.
2. The unit is noted as being above average in size for Grant Park. Is that significant?
Yes. While the living area is below the citywide average, it is larger than many units in the immediate neighbourhood. This suggests the local condo market is characterized by compact homes, so this unit may offer a relative sense of space within its specific context.
3. The building was built in 1963. What should I be concerned about?
Key questions would involve the building's reserve fund study, the history and amount of condo fees, and any record of recent major repairs or special assessments. The mechanical systems, window updates, and balcony conditions in an older building are also important points of inquiry.
4. Who would this property suit best?
It is well-suited for a pragmatic buyer whose primary goals are affordability and location. This includes first-time buyers entering the market, investors looking for a rental unit with a lower purchase price, or empty-nesters downsizing from a house who want to maintain the Grant Park location without a large mortgage.
5. The sold price history shows a range. How can I get the exact figure?
The exact sold prices are not publicly displayed in detail. As noted on the listing, you can request the precise history by emailing the provided service; they manually provide the data without using your email for marketing.