Property Summary: 106-3907 Grant Avenue, Winnipeg
Key Characteristics, Appeal & Target Buyer
This is a compact, 905 sqft condominium built in 1978, located in the established Varsity View neighbourhood. Its primary appeal lies in its exceptional location and relative affordability within a highly desirable area. The property ranks in the top tier for its location, surpassing nearly all comparable homes in the neighbourhood and city for area-specific value, suggesting it offers a rare, lower-cost entry point into this sought-after community.
The unit would suit first-time buyers, investors, or downsizers seeking a low-maintenance lifestyle near the University of Manitoba, without the responsibilities of a house. A thoughtful perspective is that while the living space is modest and the building is older, the stellar location ranking indicates you are paying predominantly for the land and community, not the physical structure. This represents a strategic purchase for someone prioritizing area over square footage, betting on the long-term stability and appeal of Varsity View.
Frequently Asked Questions
1. What are the monthly condo fees, and what do they cover?
This is the most critical financial question for any condo purchase. The listing data does not include this information, so you must obtain a current status certificate from the condominium corporation. This document will detail the fees, included utilities (if any), the corporation's financial health, and its reserve fund.
2. Why is there such a gap between the 2020 sale price and the current assessed value?
The 2020 sale of $147,000 likely reflects the market at that time. The increase to the $180,000 assessment mirrors broader market appreciation. However, the assessment is for municipal taxation; the actual market value will be determined by current supply, demand, and the condition of the specific unit.
3. The rankings show low scores for size and assessed value. Is this a concern?
Not necessarily. These lower rankings indicate this is one of the smaller and more modestly valued properties in the area. This is consistent with its identity as an affordable entry-point option. The key is that its location rankings are top-tier, which is often a stronger driver of long-term value.
4. What is the parking situation?
The listing notes there is no garage. You will need to clarify if there is a dedicated surface parking spot, visitor parking, or only street parking. This is a crucial practical consideration in a dense neighbourhood.
5. As a 48-year-old building, what should I investigate regarding its condition?
Beyond a thorough inspection of the unit itself, the status certificate is again vital. It will highlight any recent or upcoming major projects (e.g., roof, windows, building envelope) and the adequacy of the reserve fund to pay for them, which could affect your fees or lead to special assessments.