Property Overview
This condominium at 402-160 Tuxedo Avenue in Winnipeg's Edgeland neighborhood presents a spacious and well-established living option. Its key appeal lies in offering above-average square footage for the area in a building from the mid-1980s. With 1,600 sqft of living space, it ranks in the top 27% for size within Edgeland, providing the roominess often sought in a family home but within a condo structure. The assessed value is also above average for both the neighborhood and the wider city, suggesting a solid, recognized worth.
The property would suit buyers looking for a low-maintenance lifestyle without sacrificing space, such as downsizers from a single-family home who still desire ample rooms, or professionals seeking a established, roomy condo in a central location. A thoughtful perspective is that while the building isn't new, its era often means more generous room proportions and potentially fewer premium fees associated with brand-new constructions. Its metrics indicate a unit that holds its own in the local market, offering a practical balance of space, location, and value.
Frequently Asked Questions
1. How does this condo's size compare practically?
At 1,600 sqft, it is significantly larger than the Winnipeg city-wide condo average (1,042 sqft) and above the Edgeland neighborhood average. This translates to more functional space, potentially accommodating multiple bedrooms, a larger living area, or dedicated hobby/office rooms.
2. What does the "above average" assessed value indicate?
An assessed value that ranks in the top 25% for Edgeland and top 9% city-wide generally reflects that the property is officially valued higher than most comparable properties. This often correlates with desirable features, location, and condition, and can be a marker of stable or strong underlying value.
3. The building was built in 1984. What should I consider?
A building of this age is well-established. Key considerations would be the financial health of the condominium corporation's reserve fund for major repairs (like roofing, windows, or elevators) and any recent or planned special assessments. Well-managed buildings from this period can offer great value and space.
4. The unit sold for $600k in September 2023. How is that used?
This recent sale price provides a concrete benchmark of what a buyer was willing to pay in the recent market. It's a critical data point for understanding current value, especially when compared to the government's assessed value for tax purposes, which may be different.
5. Are there many similar units in the building?
The listing shows several other units at the same address (e.g., 903-160, 703-160), indicating this is a multi-story condo complex. This can be positive for consistency in building maintenance and community, but it's wise to research whether units are similar in layout and size to gauge competition if you later resell.