Property Overview
Key Characteristics, Appeal & Ideal Buyer
This is a 970 sqft condominium in North St. Boniface, built in 1997 with a current assessed value of $229,000. The data presents a property of contrasts. Its size and age are fairly typical for Winnipeg overall, but within its immediate neighbourhood of newer builds, it stands out as one of the more established units. This can be a hidden advantage, potentially meaning fewer near-term major renovations compared to much older stock city-wide.
The core appeal lies in its value positioning. The assessed value is significantly below the North St. Boniface area average, suggesting a more accessible entry point into this neighbourhood. It last sold for an estimated $200k-$250k in late 2023, aligning with its assessment. This unit would suit a pragmatic first-time buyer or an investor seeking a straightforward, mid-sized condo without premium pricing. It also fits someone who wants the St. Boniface locale but prioritizes functional space over being in the newest building. A less obvious perspective is that its "below average" value within a higher-cost area could indicate a slower appreciation trajectory, but also provides a cushion against market dips.
Frequently Asked Questions
1. How does this condo’s value compare to its neighbours?
Its assessed value of $229k is notably below the North St. Boniface area average of ~$362k, ranking it in the bottom 3% of the neighbourhood for this metric. This indicates it is a more affordable option within this specific area.
2. Is the living space typical for the area?
At 970 sqft, the living area is below the neighbourhood average (~1,180 sqft) but is very close to the city-wide average. You’re getting a space that’s standard for Winnipeg overall, but on the smaller side for newer builds in North St. Boniface.
3. What does the building’s age mean for me?
Built in 1997, the building is 29 years old. In North St. Boniface, this makes it older than 95% of comparable homes, as the area has many newer constructions. This suggests a well-established building, but a prospective buyer should carefully review the condominium reserve fund study for upcoming major repairs (like roofing, windows, or balconies).
4. Where can I find the exact past sale price?
The site provides sold price ranges for non-members. The exact sale price from September 2023 is available by requesting it directly via email from the site, as they manually look up and provide this data due to industry regulations.
5. Are there many similar units in the building?
Yes. The listing shows several other units at the same address (e.g., 101, 103, 104, 201, 202-737 St Joseph Street), indicating a medium-sized condominium complex. This can be beneficial for comparing unit values and understanding the building community.