111-3420 Grant Avenue

Property Overview: 111-3420 Grant Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This well-maintained condominium in Elmhurst offers a practical and low-maintenance living solution. Built in 1993, its primary appeal lies in its strong relative value and move-in-ready condition within a mature, established neighbourhood. The 1,252 sqft unit ranks highly within its immediate area for size, recent sale price, and overall value, suggesting it is a competitively positioned property on its street and in Elmhurst.

Its standout feature is its exceptional ranking performance. The property sits in the top 2% of its street, the top 0% of its community, and the top 0% of all Winnipeg for its lot size or building footprint, indicating a potentially more substantial or better-situated unit within the complex. It appeals most to first-time buyers, downsizers, or investors seeking a stable, no-fuss property. The recent 2023 sale provides clear, current market comparables. The lack of a basement or garage simplifies upkeep and reduces associated costs, suiting those who prioritize ease and simplicity over extensive storage or workshop space. A thoughtful perspective is that this unit represents a "known quantity" – its recent transaction history and solid rankings reduce speculative guesswork for a buyer, offering a sense of security in its established market position.

Section 2: Frequently Asked Questions

1. What do the "rankings" actually mean?
They are percentile rankings comparing this specific unit against other houses on its street, in Elmhurst, and across all of Winnipeg. For example, being in the "top 0%" for size in the community means it is larger than 100% of compared properties, likely due to the condominium structure being compared to single-family homes.

2. Why is the assessed value ($266K) lower than the 2023 sale price ($275K)?
Municipal assessments for tax purposes often lag behind current market values and use a different valuation model. The recent sale price is a more accurate reflection of its actual market worth.

3. Who is responsible for exterior maintenance and repairs?
As a condominium, the corporation is typically responsible for major exterior elements like roofing, siding, and common areas. The condo fee (not listed here) covers these costs. A critical question for a buyer is to review the corporation's financial health and reserve fund.

4. What are the implications of having no basement or garage?
This means all living and storage space is on the main level. It simplifies safety and maintenance (no flooding risk, no furnace room) but requires creative storage solutions. The lack of a private garage means reliance on surface parking.

5. The build year is 1993. Should I be concerned about major repairs?
While the building is 33 years old, a condominium corporation usually manages significant component replacements. The key is to review the condo documents to understand the schedule and funding for upcoming major projects like roof replacement or window renewals, which are common for buildings of this age.