403-180 Tuxedo Avenue

Property Overview & Appeal

This condominium at 403-180 Tuxedo Avenue presents a compelling blend of space, location, and value. Its primary appeal lies in its exceptionally generous 1,820 sqft living area, which places it within the top 2% of all homes citywide for size. This makes it a rare find for a condo, offering the square footage of a detached house with the convenience of condo living. Built in 1988, the unit is notably newer than most in the Edgeland area. With an assessed value of $570,000, it sits in an above-average tier for its immediate neighborhood and street, suggesting a premium positioning within a desirable area.

The property would best suit buyers who prioritize spaciousness but want to avoid the maintenance of a large house. It’s ideal for empty-nesters looking to downsize without sacrificing room for family visits, or for professionals seeking a substantial, low-maintenance home in a well-established neighborhood. A thoughtful perspective is that this condo offers "hidden density"—it provides a large living footprint within a multi-unit building, which can be a smarter, more sustainable use of land compared to a similarly sized single-family home, without compromising on interior space.

Frequently Asked Questions

1. What does the ranking data actually mean for a buyer?
The rankings show how this unit compares to similar properties. For example, being in the top 2% citywide for living area confirms its unusual spaciousness. The "above average" assessed value rankings on its street and in Edgeland indicate it's a higher-value property within an already desirable area, which can be a positive for long-term value.

2. Is the $55,500 sale price in 2024 a cause for concern?
This is almost certainly a data entry error or reflects a non-arms-length transaction (like a transfer between family members). It should not be considered a market indicator. The prior 2017 sale at $500,000 and the current $570,000 assessed value are the relevant figures for market context.

3. What are the implications of the building being constructed in 1988?
A building of this age is likely past its initial major capital expenses, but a well-managed condo corporation would have a robust reserve fund for ongoing repairs. Prospective buyers should carefully review the condo documents, meeting minutes, and reserve fund study to understand the financial health and any upcoming special assessments.

4. The listing mentions "Basement: No." What does this mean for a condo?
This typically indicates that the unit itself does not include a basement or lower level. All of its 1,820 sqft is likely on one level or split across above-ground floors. This is an important clarification for buyers comparing it to townhouse-style condos that may include a lower level.

5. How does the value compare to nearby single-family homes?
With a $570,000 assessment, this condo's value is comparable to many detached homes in various Winnipeg neighborhoods. The trade-off is clear: you acquire significant interior space and location within a low-maintenance condo building, rather than owning a private yard and the exterior structure itself. This appeals to a specific lifestyle preference.