114-500 Cathcart Street

Property Overview & Key Characteristics

This 1,077 sqft condo in Elmhurst, built in 1999, presents a practical and low-maintenance living option. Its primary appeal lies in its exceptional competitive positioning within the broader market. The property ranks in the top tier for its size relative to both the neighborhood and all of Winnipeg, suggesting it offers more space than the vast majority of comparable units. Furthermore, its 1999 build year is notably newer than most homes in the area, ranking in the top 5% within the community. This combination of relatively modern construction and above-average interior space for a condo forms its core value proposition.

The unit would suit first-time buyers seeking an affordable entry into the market without the upkeep of a house, or downsizers looking to simplify their lifestyle while retaining comfortable square footage. Its strong rankings indicate it's a competitively sized unit in a well-established neighborhood, appealing to value-focused buyers who prioritize space and newer builds within the condo segment. A less obvious perspective is that its modest assessed value, while lower than many in the immediate vicinity, may reflect a cost-effective opportunity in a building without extensive amenities (like a garage or pool), keeping monthly fees potentially more manageable.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings show how this unit compares to others in its immediate street, neighborhood, and city. For example, ranking in the top 1% for size on its street means it is larger than 99% of other homes on Cathcart Street, which is a significant advantage for a condo.

2. Are there any monthly condo fees, and what do they cover?
This information is not provided in the available details. A crucial next step would be to obtain the condo corporation's financial statements and bylaws to understand the monthly fee amount, what utilities or services (like water, building insurance, grounds maintenance) are included, and the health of the reserve fund.

3. Why is the assessed value relatively low compared to the area?
The assessment is typically based on mass appraisal models and recent sales. Its lower relative rank could be due to the specific building, the unit's interior condition, or the lack of certain features (like a garage) common in the area. It's important to view this as a baseline for property taxes, not necessarily the market value.

4. What is the Elmhurst neighborhood like?
Elmhurst is a mature, established neighborhood in Winnipeg. Its high rankings for the property's age suggest a community with many older homes, making this 1999 building one of the newer constructions. Buyers should explore the area for amenities, transit access, and overall character to see if it fits their lifestyle.

5. What are the implications of having no garage or basement?
The lack of a garage means parking is likely limited to surface lots or street parking, and all storage must be accommodated within the unit's 1,077 sqft. The absence of a basement eliminates potential for extra storage or mechanical space, so inquiring about in-suite storage and building locker availability is essential.