Property Overview
This condominium at 106-919 Chancellor Drive in Winnipeg's Montcalm neighbourhood presents a specific and efficient living proposition. Built in 2004, it is a notably modern unit within its immediate building and street context. With 896 square feet of living space, it offers more room than most comparable units on Chancellor Drive, yet remains compact relative to many single-family homes in the broader area. Its assessed value is modest, especially within the Montcalm neighbourhood, suggesting a lower property tax burden. Recent sales data indicates it sold for an estimated $200,000–$250,000 in 2024.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of modern construction and manageable scale within an urban setting. Its 2004 build date means it is likely to have contemporary building systems and finishes, potentially reducing immediate maintenance concerns compared to older stock. The 896 sqft layout is efficient, suitable for a single person, a couple, or someone looking to downsize without feeling cramped. The financial profile is distinctive: while the assessed value is very low for the Montcalm area, the recent sale price reflects market value. This creates a scenario of relatively lower property taxes—a significant, ongoing cost savings—within a desirable neighbourhood.
This unit would best suit a pragmatic, value-conscious buyer. This includes first-time buyers seeking an entry point into the market, investors looking for a property with a favourable tax-to-rent ratio, or retirees downsizing from a larger family home who wish to maintain neighbourhood connections while minimizing monthly carrying costs. It’s a practical choice for those who prioritize modern infrastructure and financial efficiency over sheer space or a premium view.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed value in Manitoba is primarily for municipal tax purposes and is based on a mass appraisal system, not necessarily current market fluctuations. A significant gap between assessed value and sale price can indicate a strong market demand for the specific property type or area, leading to a favourable property tax situation for the new owner.
2. What does the "Elite" ranking for Year Built on its street mean?
This statistical ranking shows that this unit (built in 2004) is the newest of the 72 comparable properties on Chancellor Drive. It suggests the building or complex may be newer than others on the block, potentially offering more contemporary construction standards and amenities.
3. Who is responsible for the exterior and common area maintenance?
As a condominium, these costs are covered by a monthly condo fee (not specified in the public data). Prospective buyers must review the corporation's financial statements, reserve fund study, and bylaws to understand fee levels, what they cover, and the health of the building's finances.
4. How does its size compare to an average Winnipeg home?
At 896 sqft, this unit is below the city-wide average for living area. It offers a compact, efficient layout. The data shows it provides more space than most units on its own street but less than the typical detached home in Montcalm or across Winnipeg, confirming its positioning as a mid-size condo.
5. How can I find out the exact price it sold for in 2024?
The exact sale price is not public record in Manitoba. The listing service provides the estimated range. As noted, you can request the exact price by email from the source; they manually verify and provide the figure without obligation.