Property Overview
This is a 905 sqft condo unit located in the established Varsity View neighbourhood of Winnipeg. Built in 1978, it presents a practical, low-maintenance living option. Its primary appeal lies in its exceptional location ranking—it sits in the top tier of properties within its immediate community and across all of Winnipeg for its specific attributes. Recent transaction history shows active market interest with a sale in 2022 at $210,000, following a 2021 sale at $160,000, indicating a period of increased value. The current assessed value is $192,000.
This property would suit first-time buyers seeking an affordable entry into a well-regarded neighbourhood, investors looking for a unit with demonstrated market activity, or downsizers wanting a manageable space without exterior upkeep. It’s a straightforward home for those who prioritize location and simplicity over modern finishes or private outdoor space.
Key Details & FAQs
Key Characteristics & Appeal:
- Location & Ranking: The standout feature is its positional strength. The data indicates it ranks better than nearly all comparable properties in its immediate area, a rare level of standing that speaks to the specific desirability of this address.
- Practical Living: With no basement, garage, or yard maintenance, this unit offers a truly low-maintenance lifestyle. The 905 sqft size is compact and efficient.
- Market Trajectory: The price progression between the 2021 and 2022 sales suggests the unit captured rising market value during that period, providing a recent benchmark for buyers.
- Ideal Buyer Profile: This suits the pragmatic buyer—someone who understands value in terms of location rankings and maintenance savings over sheer size or modern luxury. It’s for those who see a home as a functional base in a prime spot.
Frequently Asked Questions:
1. What does "ranking in the top 0% of the community" actually mean?
It means that, based on the platform's analysis of specific metrics for this property type, it scores higher than 100% of other listings in Varsity View. This exceptional ranking is typically tied to a combination of its location, value, and recent sales activity within that defined area.
2. The unit sold for $210,000 in 2022, but the assessment is now $192,000. Why the difference?
Municipal property assessments are for taxation purposes and often lag behind current market values. They are based on mass appraisal techniques and may not reflect recent renovations or precise market shifts. The 2022 sale price is a more concrete indicator of what a buyer was recently willing to pay.
3. Who is responsible for exterior maintenance and repairs?
As a condo unit, all exterior maintenance, including the building structure, roof, common areas, and grounds, would be managed and funded by the condominium corporation through monthly condo fees. This is a key trade-off for the low-maintenance lifestyle.
4. Are there any obvious drawbacks to consider?
The data points to some less dominant rankings: its size (905 sqft) and assessed value place it in the lower half of properties city-wide. Buyers seeking more interior space or newer builds may find it less suitable. The absence of a private garage or basement for storage is also a consideration.
5. What should I investigate about the condo corporation?
Before purchasing, it is crucial to review the condominium's status certificate. This document details the corporation's financial health (reserve fund), rules, bylaws, and any pending special assessments. The stability and management of the condo corp. directly impact your fees and living experience.