Property Overview: 204-3915 Grant Avenue, Varsity View, Winnipeg
Key Characteristics, Appeal & Target Buyer
This is a compact, 905 sqft condo unit in the well-established Varsity View neighborhood, built in 1978. Its primary appeal lies in its exceptional location-based rankings. The property ranks in the top 2% on its street, and remarkably in the top 0% within both its wider community and all of Winnipeg for its lot size or unit footprint, suggesting a relatively spacious setting or advantageous positioning within the complex. This is contrasted by its very affordable assessed value, which places it in the lower third for the area, indicating a potentially high value-for-location proposition.
The unit would suit first-time buyers, investors, or downsizers seeking an entry point into a mature, central neighborhood without a high price tag. Its appeal is pragmatic: it offers the benefits of a sought-after location—likely near the University of Manitoba, transit, and amenities—while presenting a manageable and lower-cost property. A thoughtful perspective is that while the living space is modest (ranking below average in size), the standout lot/position rankings could imply better-than-average privacy, outdoor space, or natural light for a condo, which are valuable, less quantifiable perks. The lack of a basement or garage simplifies maintenance, aligning with a low-maintenance lifestyle.
Frequently Asked Questions
1. What do the "top 0%" rankings actually mean?
They indicate this property's lot or unit footprint is larger than 100% of comparable listings in its community and city, meaning it is among the very largest for its property type in those areas, a significant advantage for space and privacy.
2. If the rankings are so high, why is the assessed value relatively low?
The high rankings are specific to lot/position size. The assessed value reflects the overall market value of the 905 sqft, 48-year-old unit itself. This combination suggests you are paying primarily for the unit, while gaining the superior lot/land component as a key value-add.
3. What are the monthly condo fees, and what do they cover?
This information is not provided in the public data. A buyer must obtain the condo corporation's financial statements, bylaws, and reserve fund study to understand fees, rules, and the building's financial health.
4. Is this a good option for an investor?
Potentially, due to the low entry cost and high-demand university-area location. However, investor suitability depends heavily on the condo's rental restrictions, the proportion of renters in the building, and the stability of the condo fees.
5. The build year is 1978. Should I be concerned about major repairs?
While the building is mature, a well-managed condo corporation will have a reserve fund for major projects like roofing, windows, or envelope repairs. Reviewing the recent reserve fund study and minutes from annual meetings is crucial to anticipate any special assessments.